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Flash Data Shows GDP Shrank 0.2% Y/Y In 4Q23

CZECHIA
  • Czechia's GDP shrank 0.2% Y/Y and expanded 0.2% Q/Q in 4Q2023, according to preliminary data from the CZSO. Both figures were in line with market expectations, but better than estimated by the Czech National Bank (CNB), whose latest forecast predicted a 0.46% Y/Y contraction. The CNB's official comments on the data will be published on its website at 13:00GMT/14:00CET.
  • Mlada fronta DNES reported that the average mortgage rate at the beginning of February was 5.60% versus the CNB's two-week repo rate of 6.75%.
  • Czechia's S&P Global Manufacturing PMI will hit the wires at 08:30GMT/09:30CET. The index may have worsened to 42.5 from 43.0 prior.
  • The Finance Ministry will publish February budget data at 13:00GMT/14:00CET.

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