Czech economy grew by 2.8 in 3Q

The Czech economy grew by 2.8 percent year-on-year in the third quarter, according to data released by the Czech Statistics Office. Compared to the previous quarter, gross domestic product (GDP) increased by 1.4 percent. The growth was driven mainly by domestic demand. Data from the third quarter indicate that the country’s annual economic growth will not exceed 3.0 percent, and will thus fall below expectations. Economist predict that the economy will not reach pre-pandemic levels until next year.