Czech economy mitigates its downturn in third quarter

The Czech economy slightly mitigated its fall in the third quarter of 2020, the Czech Statistics Office reported on Friday. According to its preliminary estimate, the gross domestic product decreased by 5.8 percent year-on-year and by 6.2 percent in quarterly terms.

In the second quarter, the Czech economy experienced a fall of 10.9 percent, the worst result in the history of the independent Czech Republic.

Analysts expect that due to the restrictive measures connected to the coronavirus pandemic the year-on-year fall will again exceed the ten-percent mark in the last quarter of 2020.

Author: Ruth Fraňková