Exporters issue wage growth warning

Czech exporters have warned that excessive wage growth could make the Czech Republic less competitive as salaries are increasing at a faster rate than productivity.

Czech exports from January to August last year grew by 5.9 percent year on year to reach CZK 2.7 billion, which was a record.

Wages have grown by 3.0 percent or more for nine quarters in a row and jumped by 7.6 percent in the second quarter of 2017. Exporters say this rate of increase could impact their ability to remain competitive.