16th July 2014

Banks improved their estimate of Czech economic growth

Czech Banking Association in its prognosis improved its estimate of Czech economic growth. Czech economy should growth should increase by 2.4 % instead of 1.9% growth estimated in April. Next year the GDP should increase by 2.7 %. Export which benefits from the favourable situation on the main markets should remain to be the driving force of the economy. The structure of the economic growth should be balanced and compared to the previous estimate it should reflect more growing business investment activities and increased consumption. Rate of unemployment should be 7.6 % this year and 7.1 % next year. These estimates are based on prognosis of analysts of ČSOB, Česká spořitelna, Raiffeisenbank, UniCredit Bamk, Komerční banka, GE Money Bank and Citibank and are published regularly every quarter.

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Members of the American Chamber of Commerce in the Czech Republic