Statisticians: Czech industry and trade started recovery in first quarter of 2021
A segment of the Czech economy, particularly industry and related foreign trade, started to recover during the first quarter of 2021, according to the Czech Statistics Agency, which has just completed an analysis of the period. The main reason for the recovery is that industry and foreign trade were largely unaffected by government coronavirus containment measures, unlike a significant segment of the trade and services sectors.
Despite positive signs in some of the sectors, the Czech economy contracted by 2.1 percent during the first quarter of 2021, in part due to a fall in consumption connected to lockdowns. Investments were also low, the head of the Czech Statistics Agency, Marek Rojíček, told Czech Television. Meanwhile, one of the main reasons for growth in the industry and foreign trade sectors was the rise in automobile production.