Czech Republic Does not Leave Recession Behind

Business › Economy ♦ Published: November 13, 2012; 19:46 ♦ (Vindobona)

The country does not only stay in a recession, the situation worsens further, economists say.

Czech Republic Does not Leave Recession Behind / Picture: © Czech National Bank

Since the end of 2011, the Czech Republic´s GDP is declining. In the third quarter of 2012, the Czech Republic´s GDP shrank by 0.2% compared to the previous quarter. Compared to the third quarter of 2011, the Czech economy shrank by 1.2%. In the second quarter, the Czech GDP fell by 1.0%. As a result, the economic crisis deepens further.

The consumer confidence is still weak…

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