Czech economy in technical recession

The Czech economy contracted by 0.4 percent quarter-on-quarter in the fourth quarter of last year, falling into a technical recession, according to data published by the Czech Statistics Office. Gross Domestic Product grew by 0.3 percent year-on-year and by 2.5 percent for the whole of last year.  According to economists high inflation, at 16.2 percent in February, is hurting long-term economic growth. Real incomes have been falling and household spending is also down.