Czech Republic to Bottom Out?

Politics ♦ Published: November 23, 2013; 10:40 ♦ (Vindobona)

The economic data for the third quarter indicate that the downward trend is stopped now, governor of the CNB said. Nevertheless, the GDP data are worse than expected.

Czech Republic to Bottom Out? / Picture: ©


Miroslav Singer, governor of the Czech National Bank explained that the preliminary GDP data point that the economy has bottomed out.

In opposition to Singer, CNB vice-governor Vladimir Tomsik warned that the Czech recession will continue after a short interruption. After six negative consecutive quarters, the Czech GDP was up by 0.6% in the second quarter. In the third…