Czech Economy Likely out of Recession in Q1
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The Czech Republic's economic output advanced unexpectedly in the first quarter, though marginally, preliminary estimates from the Czech Statistical Office (CZSO) showed on Tuesday.
Gross domestic product (GDP) rose 0.1% sequentially in the first quarter, reversing a 0.4% fall in the fourth quarter.
The latest expansion was followed by two consecutive quarters of decline, thereby avoiding a recession.
The positive development in the first quarter largely relied on improved external demand, the agency said.
On a yearly basis, GDP contracted 0.2% in the March quarter versus a 0.3% rise in the December quarter.
The expected fall was 0.6%. Further, this was the first contraction since the second quarter of 2022.
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