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Comments on macroeconomic indicators: Czech economy slows down

2/14/2020 4:13 PM

In 4Q20, the Czech economy slowed to 0.2%, from 0.4% qoq growth in the third quarter. This resulted in a slowdown to 1.7% year-on-year from a previous 2.5%. According to a Czech Statistical Office (CZSO) report, the services and construction sectors contributed the most to this, although we also note that the manufacturing industry no longer contributed to the added value, which was not surprising given the data coming from this sector. The slowdown in the economy is also visible in the employment trend, which decreased by 0.3% vs the previous quarter. The detailed GDP structure is not yet available and will be published in early March. The Czech National Bank projected GDP growth of 1.9% and were therefore not fundamentally different to today's statistics.

Autor: Jana Steckerová
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