Czech Q3 GDP growth above forecast
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.
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