Czech retail sales likely grew in June despite fall in consumer sentiment

Czech Republic is likely to have recorded strong retail sales print again in the month of June. Firmer growth in sales might not come as a surprise as the nation’s jobless rate has dropped more from the already low levels, said Societe Generale in a research report. Also, wage growth has quickened in Czech Republic.

Concerns of immigration issues are mainly leading to a fall in consumer sentiment. Meanwhile, the Czech economy is mainly driven by household consumption. It is expected to continue driving the Czech GDP growth as the scenario of labor market is set to keep on rebounding, according to Societe Generale.