Czech GDP grew in third-quarter of 2020 compared to previous three months

The Czech economy experienced a 5 percent year-on-year fall in the third quarter of 2020, data from the Czech Statistics Agency shows. The decline is lower than in the previous quarter, where the economy fell by 10,7 percent as a result of effects connected to the coronavirus.

The improvement in gross domestic product is not expected to last however. Economists expect the negative impact brought about by coronavirus countermeasures in the second wave to show in the final, fourth quarter of 2020.

Growth in trade, industry and the hospitality sectors is seen as the primary reason for the 6.9 percent rise in GDP compared to the previous quarter.