Czech economic growth revised downwards
The Czech economy grew by 3.1 percent last year instead of the earlier predicted 3.5 percent, the Czech Statistical Office announced on Wednesday. If that figure holds, it would mean that economic growth nearly halved in 2008 from 2007’s 6.0 percent. The latest growth figure results from a revision of February’s estimate following new information from businesses and the government. The latest figures show how the financial crisis hit the economy at the end of the year. Economic growth in the last quarter of 2008 fell by 0.9 percent compared with the previous three months in what is the first quarterly fall since 1998.