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Czech Watch - 12 March 2002

12.3.2002 10:05
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Average wage in the Czech economy rose by 7.5% (y-o-y) to CZK 16 218 in last quarter. Thus, the real increase in the average wage amounted to 3.1% as the average inflation reached 4.3%. Wages rose faster in the non-business sphere where they jumped 9.5%, 5.0% in real terms (all y-o-y), to 15 186 Kč. It got at 16 476 Kč in the business sphere, increased by 7.0%., 2.6% in real terms (all y-o-y). Average wages grew by 8.5% (y-o-y), 3.6% (y-o-y) in real terms for the last year.

The construction output was 3.0% (y-o-y) up in January. The positive increase was surprising, respecting the high level of last January’s construction output and climate conditions in the beginning of January 2002. Seasonally adjusted construction output was 3.8% higher (m-o-m). Labor productivity rose by 0.5% (y-o-y) and number of employees in construction was 2.6% higher (y-o-y). Average nominal wage in the enterprises measured amounted to 13 892 Kč and was 6.5% higher (y-o-y).

According to the yesterday’s governmental decision, CEZ should buy the state’s stakes in eight regional distributors. On the other hand, CEZ should sell to the NPF (National Property Fund) a 66% stake of its 100%-owned subsidiary CEPS, the transmission grid operator.

Czech statistical office published its research on intention of large industrial companies. 45% of them is going to reduce their headcount in the next three months. 55% of large companies is going to keep their employees but none of them is going to hire new staff.

Click here for the „Czech economic daily“ in .pdf format.

David Marek

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