Czech Republic Economic Forecast

Czech Rep. Economic Outlook

April 2, 2019

Fourth-quarter growth picked up considerably, ending last year on an upbeat note and landing above analysts’ expectations. Fixed investment jumped; construction, as well as machinery and equipment, underpinned gains. Household spending, on the other hand, benefited from the exceptionally tight labor market and resilient economic sentiment. On the external front, exports held up remarkably well despite the recent pullback across the Eurozone. Looking at the new year, things appear less rosy. From the demand side, economic sentiment and retail sales have each dwindled since the turn of the year, while inflation has risen sharply. From the supply side, industrial output posted further losses in January and survey-based data through March highlighted that firms have been struggling to find new orders—and especially export orders.

Czech Republic Economic Growth

Although fundamentals should remain solid this year, growth is expected to moderate somewhat in line with the late-stage business cycle. Domestic demand will underpin gains amid the tight labor market and contained inflation. External-sector risks, meanwhile, appear tilted to the downside given the slowing global economy and unresolved trade conflicts. FocusEconomics analysts expect growth of 2.7% in 2019, unchanged from last month’s forecast, and 2.5% in 2020.

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Czech Republic Facts

ValueChangeDate
Bond Yield1.84-1.85 %Apr 18
Exchange Rate22.83-0.66 %Apr 18
Stock Market1,102-0.10 %Apr 18

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