Economic policy / Macroeconomic Indicators, Economic Growth
This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.
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Spotlight issue
According to a revised estimate, the economic downturn in 2Q was 11%
According to the CZSO's revised estimate, the domestic economy contracted 8.7% qoq in 2Q. Compared with last year, gross domestic product decreased 11.0%. The downturn in the Czech economy was thus slightly worse than the preliminary GDP estimate from the end of July showed. The revision of the development of the domestic economy took place in the opposite direction than in the case of Germany, whose quarter-on-quarter decline in GDP was ultimately four-tenths lower than the preliminary estimate showed. In an international comparison, the Czech Republic continues to be one of the countries whose economies were relatively affected the least by the coronavirus in 2Q.
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Czech Economic Outlook: Economy breathing but fitness is a long way off
The Czech economy is expanding
The economy bottomed in 2Q but has now started to rebound. In the second quarter, the economic situation could be better than we had initially expected. However, for the coming quarters, we now expect a lower growth rate. All in all, the economy is likely return to pre-crisis levels by the end of 2021.
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Czech Republic: Confidence improves slightly
Confidence in the Czech Republic slightly improved in August as confidence in the business sector picked up. Having said that, households’ mood deteriorated slightly as concerns about financial situation mount
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