6th November 2014

Czech economy September results

After week economic results in August where the growth of the Czech Economy fell form the +8.6 % to -5.2 % the industry and Czech economy as a whole returned to its tendency of economic growth with 8.3 %. This short-term anomaly was according to the professionals and analysts caused by the summer holidays and subsequent gap in production that went to normal when factories started producing again at 100 %. We can clearly see it as the automotive industry attributed to it the most with 11.7 %. Also the double digit growth of energetic investments with 15 % according to the Deputy Minister of Industry and Commerce Eduard Muřický proved that the Czech economy is resistant to the unfavorable European economic development. Also the Home Credit analyst Michal Kozub pointed out that the trend of Czech economy’s driving force is shifting from external demand to domestic demand and the economy is standing more on its own feet. Also the rate of foreign trade increased with export increasing by 16 % and import by 13.9 %. Also trade balance ended active with 19.3 bn CZK which is 8.2 bn CZK higher year-on-year.

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Members of the American Chamber of Commerce in the Czech Republic