Overview of the latest economic events in the Czech Republic
In the past 24 hours, the Czech Republic's construction output data for December 2024 was released. Construction output increased by 4.1 % y-o-y, with civil engineering and structural engineering seeing increases of 5.3 % and 2.7 % respectively. This growth is attributed to increased investment activity in infrastructure and residential construction.
Foreign investments - trends and attractions: 24-hour overview
In the area of foreign investment, the German company Bosch has announced a plan to build a new research centre in Brno. The investment of CZK 1.8 billion will focus on the development of technologies for smart cities and Industry 4.0, creating around 400 new jobs for highly qualified professionals.
Significant events outside the Czech Republic with global impact
On the global front, the euro strengthened by 0.8 % against the US dollar after the European Central Bank announced the continuation of its asset purchase programme. This development may affect Czech exporters trading in euros, especially in the automotive and engineering sectors.
Impact on the Czech economy
The growth in construction output by 4.1 % indicates a recovery in the construction sector, which may have a positive impact on employment and related sectors. Bosch's investment in the research centre in Brno will strengthen the region's technological potential and contribute to further innovation. The strengthening of the euro against the dollar may increase the competitiveness of Czech exporters in the US market in the short term, but at the same time make imports of dollar-denominated raw materials more expensive.
Current exchange rates according to the CNB and Google Rates
Currency | Czech National Bank exchange rate (CZK) | Google Rate (CZK) |
---|---|---|
EUR | 25.095 | 25.0724 |
USD | 24.016 | 23.9873 |
PLN | 6.023 | 6.0394 |
HUF | 0.06247 | 0.0625 |
GBP | 30.237 | 30.2669 |
CHF | 26.623 | 26.5577 |
CNY | 3.299 | 3.2958 |
JPY | 0.15827 | 0.158 |
RUB | N/A | 0.2621 |