Real income rose 5.6% for Czechs in 2019

by   CIJ iDesk I
2020-04-01   12:37
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Czechs enjoyed real income growth of 5.6 percent in 2019, the fastest pace over the course of a year in two decades. Accordingly, the increased wealth led to a rise of 3.4 percent in consumption. The Czech Statistics Office (CSU) writes that companies spent 6.5 percent more on labor costs overall, though this didn't hurt the profit levels across the board. "The profitability of and investmetn levels of non-financial companies rose as did the real income of householders and their levels of consumption," Jana Steckerová, an economist at Komerční banka told Novinky.cz. "But we'll have to say goodbye to those sorts of positive data for at least the next two quarters."