In 2014, Czech GDP will grow only moderately

In 2014, some 1600 member companies of the Confederation expect, that the Czech GDP will grow only slowly. It won‘t be reflected in a significant rise in employment and pay. „Industry will follow  the path of gradual strengthening. There are several indications for this type of development: results of the survey, improving growth indicators and more optimism among the member companies‘ management,“ the Confederation of Industry president Jaroslav Hanák said. The Confederation's analyst Bohuslav Čížek (contact: This email address is being protected from spambots. You need JavaScript enabled to view it.) forecasts that the Czech GDP will grow, in 2014, by approximately one percent. The main force behind it will be, due to the high export rate, foreign demand.

There are, nevertheless, multiple uncertainties which could influence this prediction in a negative way and thus the expectations as to the development of wages and salaries are less optimistic. According to the surveys made in the industrial and transportation sectors, wages should increase, in 2014, by less than one percent. The average pay in the Czech Republic amounted, at the end of 2013, to roughly 915 euros per month.

As for employment, the year 2014 won’t bring any significant turnaround. Companies don’t plan to recruit workers and change would come only at the end of the year. The actual unemployment rate in the Czech Republic is 7,5 percent. Currently, the utmost priority for Czech companies is to retain their key employees.