Czech economy on recovery path

The Czech economy is showing signs of substantial recovery, the news website reported on Monday. The country’s purchasing managers’ index, based on the volume of new industrial orders, rose by 1.8 points to 55.9 points in January, the highest it has been since May 2011, according to the consultancy Markit Economics. The Czech employment rate, meanwhile, exceeded 68 percent in the fourth quarter of last year, which is the highest level since 1998 says the Czech Statistics Office; the unemployment rate, calculated according to methods by the International Labour Organization, dropped annually by 0.4 percent to 6.8 percent in the same period. Analysts believe the latest figures show a positive outlook for the Czech economy in 2014.

Author: Jan Richter