14th November 2014

Czech economy development in the 3.Q

Czech GDP grew in comparison to the previous quarter by 0.3 % which is by 2.3 % in year-on-year comparison. This is slightly behind the analysts’ expectations that were at the level of 2.5 % not being immune to the weakness of its trade partners according to the UniCredit Bank analyst Pavel Sobíšek. The positive growth was influenced mainly by manufacturing industry mostly by vehicles, chemicals and chemical products. The Czech Republic is still among European top performers along with Germany with 0.1 %, France with 0.3 % and Slovakia with 0.6 % growth in comparison to the previous quarter. The inflation rate in the Czech Republic remained the same at 0.7 % with the consumer prices growing by 0.2 % month-on-month which is the fastest growth since this year’s June. Also the unemployment rate in the Czech republic is steadily decreasing being at 7.1 % now that is 0.2 % less than in September. The unemployment is highest in Ústecký and Moravskoslezský region with 10.5 % and 9.5 % and lowest in Prague with 5.1 %.

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Members of the American Chamber of Commerce in the Czech Republic