Czech economy slows down to 1.5 percent growth in Q3

The Czech Republic’s economic growth slowed down to an annual 1.5-percent rate in the third quarter of this year, according to a report by the Czech Statistical Office released on Tuesday. Compared to the previous quarter, however, the country’s GDP growth contracted by 0.7 percent. Analysts forecast a lower growth rate for the final quarter of 2011 when the Czech economy might even slip into recession. The Czech Finance Ministry is sceptical about the economy’s performance next year too, hinting that a 1.0 percent growth rate would be a success.

Author: Jan Richter