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According to the Czech Statistical Office survey unemployment in the 1Q07 decreased to 6.1%, i.e. by 1.9 p.p. It is the lowest figure for the last eight years.
• In the minutes from Czech National Bank board meeting it is said that there are moderate inflationary pressures in the economy, which put together create an important factor when deciding on rates.
• Czech National Bank decreased its forecast for public finances deficit for this year to 3.5% of GDP from 4.0%. Next year, deficit should reach 3.4% compared with previous estimate of 3.9%.
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According to European Commission Czech economy is four times more energetically demanding than EU average. For GDP of 1 000 EUR Czech economy needs Kg 852 of crude oil.
• Purchasing Managers Index in services sector in the USA increased to 56 in April from 52.4 in March.
Market estimate was 53pts. Labour productivity in non-agricultural sector increased by 1.7% q/q in the 1Q07.
• Producers’ price index in
eurozone increased by 0.3% m/m in March and 2.7% y/y.
PPI growth reached
2.9% in February.