Reports of the demise of the Czech economy have apparently been exaggerated, as the speed of GDP growth rose in the second quarter of the year from 2.7 to 2.8 percent. The Czech Statistics Office (CSU) revealed a wide range of numbers, including the continued growth of labor costs, which rose 7.1 percent year-on-year. This had the benefit of increasing household income by 3.5 percent. The average monthly wage now stands at CZK 34,995, a 3.2 percent jump compared to a year ago. However, the CSU recorded lower investments by companies into machines and equipment. The total was 2.8 percent less compared to Q2 2018 and 1.5 percent less than Q1 2019.
