Czech Q3 GDP growth above forecast

Figures

Photo by Janusz Pienkowski / Shutterstock.com

The Czech economy advanced by 6.2% in the July-September period, compared with a record contraction of 8.7% in the previous quarter, preliminary estimate by the Czech Statistical Office (CZSO) show.

Photo by Janusz Pienkowski / Shutterstock.com

It was the strongest expansion on record, following the unprecedented economic blow caused by the COVID-19 pandemic during the second quarter. Analysts expected a 5% growth.

Year-on-year, the countryʼs gross domestic product (GDP) shrank 5.8% in the third quarter, after plunging 10.8% in the previous quarter, dragged down by a decrease in capital formation and by lower household consumption.

ADVERTISEMENT

Business Sentiment Up, Consumer Confidence Down in September Analysis

Business Sentiment Up, Consumer Confidence Down in September

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.