The Prague Stock Exchange reached a new historical record on Monday and also began trading the first ETF that tracks the PX index. Industrial production in July increased year-on-year by 3.1 percent, driven by automobile and electricity production. The minimum wage will increase to 24,900 Czech crowns in 2027. The average gross salary in the Czech Republic rose to nearly 52,000 Czech crowns in the second quarter. The Eurozone's GDP was revised upwards in the second quarter to an annual growth rate of 1.2 percent.
The Prague Stock Exchange again reached a record high, for the fourth time in about a month. The PX index rose by 0.18 percent on Monday to 2,817.81 points. Most major stocks increased or remained stable. In recent weeks, the exchange has surpassed the record set on August 6th, then on August 26th, and again on September 3rd.
On the Prague Stock Exchange, trading began on Monday for the first ETF that tracks the PX index. The fund includes the ten largest domestic stocks, and rebalancing takes place on a quarterly basis. Analysts expect this new instrument to make investments on the local stock exchange more accessible to individual investors and may also attract some institutional capital.
Industrial production in the Czech Republic increased year-on-year by 3.1 percent in July, mainly due to automobile and electricity production. However, the year-on-year growth slowed down from a revised 3.8 percent in June. Compared to June, industrial production in July was 1.1 percent lower, according to data from the Czech Statistical Office.
The minimum wage will increase to 24,900 Czech crowns in 2027, which is 240 crowns more than this year's value. The decision was made on Monday, as reported by the website Kurzy.cz. The higher minimum wage will affect employers' costs, especially in industries with lower added value, and will also be reflected in the amount of some social benefits.
The average gross salary in the Czech Republic rose to nearly 52,000 Czech crowns in the second quarter of this year. Real wages continue to increase year-on-year after adjusting for inflation, which supports household consumption as a key driver of the Czech economy.
The Eurozone's GDP was higher by 1.2 percent year-on-year in the second quarter, according to revised data from Eurostat - the previous estimate had projected growth of 1 percent. Higher household spending, investment, and a stronger rebound in exports contributed to the better result. The positive developments in the Eurozone are also good news for the Czech export-oriented economy.
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