Czech economy contracted by 0.8 percent in Q3

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The Czech economy contracted by 0.8 % year on year in Q3. Compared with the previous quarter, gross domestic product (GDP) was 0.6 percent lower. This is according to revised data published by the Czech Statistical Office (CSO) on Friday. The statisticians thus worsened their previous estimate from the beginning of December, which counted on a year-on-year decline of 0.7 percent and a quarter-on-quarter decline of 0.5 percent.

Real per capita consumption fell by 5.2 percent year-on-year. However, statisticians point out that if people who have been granted temporary protection due to the armed conflict in Ukraine were not included in this balance, then real per capita consumption would have fallen by 2.4 percent. Quarter-on-quarter, it was down 0.3 per cent.

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https://byznys.hn.cz/c1-67281910-ceska-ekonomika-ve-3-ctvrtleti-klesla-o-0-8-procenta