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CZECHIA: CNB Say Q2 GDP Figures In-Line With Forecast

CZECHIA

CNB comment on this morning's GDP data:

  • The new data indicate that the Czech economy is recovering in line with the CNB’s summer forecast overall.
  • The slightly lower quarter-on-quarter growth in Q2 was offset by faster growth at the start of this year.
  • Fixed investment returned to year-on-year growth unexpectedly early. However, this was counteracted by a deeper-than-expected decline in change in inventories.
  • The CNB’s summer forecast expects economic activity to increase by 1.2% this year.
  • The growth of the Czech economy is dampened this year by the consolidation package, which causes fiscal policy to be restrictive.

See full note here.

EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia

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