Czech economy does unexpectedly well during lockdown

According to analysts, the Czech economy has done unexpectedly well in view of the pandemic restrictions. According to the Czech Statistics Office its performance in Q1 decreased by 0.3 percent compared to the previous quarter. Year-on-year, the decline eased from the previous minus 4.8 to minus 2.1 percent.

According to the chief economist of UniCredit Bank, Pavel Sobíšek, a decline of barely half a percent between quarters and 2.3 percent year-on-year is a surprisingly good result    for a period during which tough anti-pandemic measures were in place from start to finish.