WOOD Flash – Czech Republic macro: a sound recovery, despite stagnant exports
According to the flash estimate of 1Q real GDP, the economy grew by 0.5% qoq and by 0.4% yoy, mildly above both our and the consensus expectations and meaningfully above the CNB’s forecast. The April sentiment surveys show that domestic demand continued to recover in 2Q, but the industrial sector remains in a frail position, with expected orders slowing this quarter. Inflation is at the CNB’s target, allowing the Council to reduce the policy rate to 3.75% this year, from 5.75% currently.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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