According to data released today the Czech economy is still growing at a fair clip – by 4.4% year on year. Inflation is low at 1.3% (incredibly low, and his marks already an important difference with the Southern Europe countries). Unemployment is coming down too, although it is still pretty high at 9.4%. Exports to the rest of the EU are the main driving force, there is no mystery here. But *note*, Spain (eg) is consistently loosing competitiveness (due to the inflation differential) as the Czech republic pulls steadily up towards average EU per capita GDP. (Personal note: must follow this more closely).