Czech economy drops 10.9% in Q2
Photo by Feng Yu / Shutterstock.com
The Czech economy experienced a fall of 10.9% in the second quarter of 2020, according to revised data released by the Czech Statistics Office (CZSO).
The statistic is the worst in the history of the independent Czech Republic and was primarily caused by the restrictive measures connected to the coronavirus pandemic.
Estimates predicted a year-on-year fall of 10.7% and a quarter-on-quarter of 8.4%. According to experts, the quarter-on-quarter GDP is expected to increase again after most restrictions on economic activity have been lifted.
The unemployment rate in Czechia was steady for the third consecutive month at 3.8% in September, Minister of Labor and Social Affairs Jana Maláčová announced at a press conference on Friday.
A year ago, the jobless rate was lower at 2.7%. The countryʼs labor offices registered over 277,000 job seekers last month, Maláčová said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.