Unemployment is down, but what will happen next?

As product prices often change in opposite directions, each of us might face quite different increases in the cost of living. Therefore, inflation is not the same for everyone – it is different for each of us.

The overall result: GDP has grown by 11.1% as compared to the second quarter of 2020 and by 4.4% quarter-on-quarter, which is even more than projected by the flash estimate published a month ago.

Just like in spring when some places are still completely covered in snow, while elsewhere the first green shoots are already piercing through, the recently released Central Statistical Bureau's labour force survey data on the first quarter of 2021 also contain some indications of a frozen labour market as well as the first heralds of the expected economic recovery.

In the first quarter of 2021, the value of exports of goods increased by 8.2%, with the biggest contribution coming from the "hot" exports of products of wood, driven by high demand in the construction sector and the related increase in prices.