Czech Industry grows by 1.3%; Average wage grows by 1.7% in real terms in 3Q; value of contracts is 5.2% up

Published: 10.12.2020 Related countries:  Korea (south) Korea (south)

Czech Statistical Office provides information about Czech Industry growth

The seasonally adjusted industrial production increased by 1.3% in real terms in October 2020. The information was provided by the Czech Statistical Office. Revenues from the industrial activity at current prices increased by 2.3%. The value of new contracts increased by 5.2%. The value of contracts from abroad grew by 8.4% and the value of contracts from the Czech Republic fell by 1.7%. The average number of employees fell by 4.1% and their gross monthly nominal wage increased by 2.5%. In the Q3 2020, the average gross monthly nominal wage per fulltime equivalent (FTE) employee in the national economy increased by 5.1% y/y to CZK 35,402. Consumer prices increased by 3.3%, so the average wage in real terms was 1.7% up. The information was provided by the Czech Statistical Office. The volume of wages increased by 1.9% and the number of employees fell by 3.1%. The median wage increased by 5.1% y/y to CZK 31,183.

Source: CIA News

Prepared by the team of foreign office CzechTrade and CzechInvest Seoul