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Leaders of Ruling Parties and Labor Union Representatives To Discuss Wage Growth

CZECHIA
  • Today, Leaders of ruling parties meet labor-union representatives to discuss wage growth in public sector (BBG).
  • Industry and Trade Minister Jozef Sikela and CEZ CEO Daniel Benes are scheduled to jointly brief press on planned natural-gas supplies from a Dutch LNG terminal (BBG).
  • Next important data to watch will be PPI inflation coming out on July 20, expected to accelerate to 28.8% YoY in June.
  • Data on consumer and business confidence surveys will come out next week on July 25.
  • As a reminder, June consumer confidence fell to its lowest level since August 1999 at -32, mostly driven by the elevated inflation and the surge in recession risks.
  • The chart below shows that consumer confidence has strongly led industrial production by 6 months in the past two decades, and is also pricing in a sharp deceleration in the economic activity.

Source: Bloomberg/MNI

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