- Retail sales rose 6.6%, year-on-year, in November 2001. The figure is close to our forecast (7.0%) and the market consensus (6.3%). In October, retail sales grew by 7.2%. Taking into account announcements of some retail chains, we can expect consumers' demand to keep the growing trend also in December. Sales in transport fell by 1.4%, but sales of hotels and restaurants increased by 0.5% and sales in telecommunications rocketed by 16.3%.
- The Czech currency keeps an appreciation trend yesterday despite Monday's CNB intervention on the FX market and a threat of further interventions. The CZK/EUR exchange rate attacked the level 32.0 yesterday in the afternoon.
- Eurostat released HICP (Harmonized Index of Consumer Prices) for December. Price level in the Eurozone increased by 2.1%, year-on-year. ECB thus failed again to reach its inflation target (HICP below 2.0%). However, HICP is likely to drop below 2.0% during this year.
- CzechInvest assumes that a new BMW factory in Leipzig (Germany) will bring an investment opportunities in the Czech Republic worth USD 250mil due to a proximity of the North Bohemia to the German city.
- The Czech statistical office releases foreign trade figures today. We forecast a trade deficit to reach CZK 14bn in December. Thus, the whole year deficit should amount to CZK 111bn that is by CZK 10bn less than in 2000.
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