Czech Republic Economic Forecast

Czech Rep. Economic Outlook

bet360备用网址March 10, 2020

The economy closed 2019 on a soft note, with annual growth slowing to a three-year low in the fourth quarter amid a frail external sector. Exports fell for the first time in nearly seven years as global trade conflicts and a weak German industrial sector weighed on foreign demand. Domestic demand, however, held surprisingly robust as private consumption gathered momentum amid a tight job market and upbeat wage increases. Investment activity also accelerated, further helping buffer the slowdown. Meanwhile, available survey data points to waning activity at the turn of 2020. Economic sentiment declined to its lowest level in six years in February as business confidence continued to tumble. Moreover, despite the manufacturing PMI climbing in January and February, it remains well entrenched in negative terrain, which, coupled with uncertainty over the impact of the coronavirus outbreak on the goods-producing sector, bodes ill for Q1 prospects.

Czech Republic Economic Growth

Growth is seen easing this year amid weaker domestic demand, particularly as household spending slows on more moderate wage gains. That said, the overall expansion should remain relatively healthy, with resilient investment activity lending support. A slowing global economy, the coronavirus impact on supply chains and subdued German industry are key external risks ahead. FocusEconomics analysts see growth of 2.1% in 2020, which is down 0.1 percentage points from last month’s forecast, and 2.4% in 2021.

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Czech Republic Facts

Value Change Date
Bond Yield1.64-1.85 %Dec 31
Exchange Rate22.76-0.66 %Dec 30

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