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Czech Economy Likely out of Recession in Q1

Figures

Photo by Karel Pesorna/Shutterstock.com

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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