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Indicator Analysis: The Czech economy rebounded less than expected in 2Q

7/30/2021 3:05 PM

A preliminary estimate of Czech GDP in 2Q published today showed an increase of 0.6% qoq after a previous 0.3% qoq decline. Compared with our forecast of 2.1% qoq growth and the market consensus of 2.0%, this was a significant negative surprise. However, uncertainty of the CZSO estimate remains high and so we can see some data revisions in the future. In yoy terms, the economy recorded record-high growth of 7.8%, which, however, was largely given by the low base of 2020. Economic activity in 2Q reached 95% of its pre-crisis levels (measured against the last quarter of 2019).

Autor: Martin Gürtler
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