In Business News this week: Czech average wage rises to 25,306 crowns; this year’s tax freedom day to fall on June 5; Tatra Trucks expects to sell over 1,000 vehicles in 2015; and online grocery market Kolonial.cz enters Czech market.
Czech average wage increased to 25,306 crowns
Photo: Eva Odstrčilová
The average wage in the Czech Republic increased by 552 crowns (or 2.2 percent) in the first quarter of 2015 to 25,306 crowns a month, the Czech Statistical Office announced on Friday. Adjusted for inflation, real wages went up by 2.1 percent. Two-thirds of employees earn less than the average wage. Eighty percent of Czech employees earn between around 10,200 crowns and 40,000 crowns.
Czech retail sales in April increase by six percent year-on-year
Photo: European Commission
Czech retail sales, both adjusted and non-adjusted for working days, increased by six percent in April compared to the same period last year, the Czech Statistical Office informed on Friday. It is the fastest retail sales growth recorded since 2007. Analysts estimate that retail sales could increase by 3.5 percent for the whole of 2015. The fastest sales growth was recorded by web retailers, whose sales went up by 19 percent year-on-year. Sales growth in the automotive segment slowed compared to the previous month.
Tax freedom day falls on June 5
Photo: Tomáš Adamec
This year’s tax freedom day in the Czech Republic has fallen on June 5, five days earlier than in 2014, the think tank Liberal Institute announced, referring to estimates by the OECD. Tax Freedom Day is the first day in the year when the nation has theoretically earned enough income to pay its taxes. This year it has taken 155 days to reach this point, the fewest days since 2000. The OECD average is May 31.
Tatra Trucks expects to sell over 1,000 vehicles in 2015
Photo: archive of Tatra
Czech heavy vehicles manufacturer Tatra Trucks expects to sell over 1,000 vehicles this year, the highest number in the last five years, Petr Rusek, chairman of the board and business operations director for Tatra Trucks, said on Thursday. The company currently employs some 850 people and plans to sign up around 80 new employees this year. The company sold 850 trucks last year and posted a profit of over 3.7 billion crowns, roughly a billion more than in 2013, which was the best result for Tatra since 2008.
A new online grocery market, Kolonial.cz, has entered the Czech market this week. According to its head, Petr Vyhnálek, it will supply consumers in and around Prague but the company would like to expand beyond the capital in future. The Czech market in home deliveries of foodstuffs is currently dominated by UK retailer Tesco and the Czech-owned Rohlik.cz. According to a recent survey by the consultancy Nielsen, 14 percent of Czechs shop for groceries on-line. Kolonial.cz says it wants to offer a wider range of fresh foodstuffs than its competitors and plans to supply part of them directly from the producers.
