GDP falls again in Q3 as recession continues

15-11-2012

The Czech GDP fell by 0.3 percent in the third quarter, compared to the previous one. Year-on-year the decline was 1.5 percent. According to the Czech statistical office the GDP has been in decline for the fourth quarter in a row, indicating that the Czech economy is in a slowly deepening recession. According to the statisticians, the continuing decline is due to decreasing demand of the Czech consumers, as well as the lower investments into construction and transportation vehicles.