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Retail Sales Contract More Than Expected

CZECHIA
  • Czechia's retail sales (ex auto) tumbled 9.4% Y/Y in October, printing below the expected -6.4% level. The September reading was revised to -5.3% from -5.6%. The CZSO said that "the rate of decline deepened especially for non-food goods, but also for food and fuel."
  • Czechia's leaders are on diplomatic duty today, as Prime Minister Petr Fiala is set to participate in a meeting of EU leaders and Western Balkan nations, Foreign Minister Jan Lipavsky meets with V4 counterparts and Finance Minister Zbynek Stanjura attends a meeting of EU finance chiefs.
  • Lidove Noviny reports that while Czech users have cut down their use of gas this year (by 20% Y/Y between January and November), not all customers have been saving energy. Gas consumption is growing among smaller businesses, while the industry, commerce and services firms need more electricity.

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