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Czech Republic GDP Q4 2023

Czech Republic: Economy rebounds in Q4

The economy expanded 0.2% in seasonally adjusted quarter-on-quarter terms in Q4, swinging from Q3’s 0.6% contraction. Meanwhile, output decreased 0.2% on a seasonally adjusted year-on-year basis in Q4, following the 0.8% contraction recorded in Q3.

According to a press release, external demand and consumption expenditure supported quarter-on-quarter growth. Meanwhile, employment decreased by 0.1% quarter on quarter.

Commenting on the outlook, Jiri Polansky, analyst at Erste, stated:

“Economic activity should gradually improve over the course of this year. On the one hand, household consumption will recover, positively affected by a fall in inflation and a recovery in real wage growth. On the other hand, external demand will also strengthen in the context of (expected) improved developments in the Euro Area, which will spill over into Czech exports and investment activity. Risks remain elevated and skewed towards lower GDP.”

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