TNBiz (TNBiz)
Macroeconomics  |  November 15, 2012 17:30:16

Czech economy out of recession in the near future get, analysts estimate

PRAGUE (MEDIAFAX) - In the coming quarters, the economy of the Czech Republic from the ongoing recession gets, agree experts. They published their forecasts on Thursday after the Czech Statistical Office announced another drop in GDP, this time by 0.3 percent QoQ and 1.5 percent from last year.

"We do not expect major improvement even for the fourth quarter. Our forecast for the whole year is a drop in GDP of one percent. Uncertain is the weather forecast for the year 2013, when we expect only a very slight increase in GDP," said Director of the economic policy of the Union of Industry and Transport Boris Long added, "We recognize that even the estimates for next year will be continuously corrected."

Analyst GE Money Bank Petrka Gapka is clear that an even stronger decline in the Czech economy precludes only net exports. "His resistance to external influences but not limitless, indicating slowing automotive industry. This logically also reflected in the creation of gross value added offering view of the economy," said Gapko. He also said that consolation may be published by the Czech Republic, at least the performance of French and German economies. Those in the quarterly comparison and consistently exceeded estimates grew by 0.2 percent. Year-Germany added 0.9 percent.

The current recession is, according to CSOB analyst Petr Dufek Although less severe than the previous one (2009), but is already longer and signs of upturn are nowhere apparent. "Big engine of the economy and industry is breathing new orders bode improvement even for the end of this year," said Dufek.

"The causes of the continuing decline in GDP are obvious. Deepens the decline in domestic demand. Saves households, firms reduce investment and the government has no capacity to increase their spending due to budget deficits," says chief economist at Patria Finance David Marek.

The strength of the Czech economy, the banking sector is healthy and good room for maneuver of the Czech currency, said PwC Managing Partner in the Czech Republic Jiří Moser. "Our analysis showed that any further decline in the euro area the Czech Republic is the second best prepared countries, after Russia," says Moser with the fact that this year the Czech GDP expected to fall to one percent, and next year, the domestic economy should return to the black .

Gross domestic product adjusted for price, seasonal and calendar effects decreased in the 3rd quarter, according to a preliminary estimate, the Czech Statistical Office (CSO) grew by 1.5 percent compared with the previous quarter by 0.3 percent.

The cause of the continuing decline in GDP in the 3rd quarter was primarily the gradually weakening domestic demand, in particular the declining investment in buildings, machinery and transport equipment. Downward trend, however, should also consumer household expenditures. Trade surplus has already been - as in the first half - able to compensate for declining domestic consumption, according to CSO.

Jan Soukup,

Was this article: 10 | 8 | 6 | 4 | 2 | 0

Last news from the section Macroeconomics:

St 10:59  Inflace v Británii stagnuje ČSOB-Dealing (ČSOB-Dealing)
St 10:14  Po slabém výsledku německého HDP i český výsledek zklamal (Komentář) Investiční bankovnictví (Komerční banka)

Česká ekonomika se z recese v nejbližší době nedostane, odhadují analytici

Diskuze a názory

Na dané téma nejsou žádné názory.

Zobrazit sloupec 
Moner | ISIN database | Weather forecast
Česká verze - Akcie cz, kurzy měn, forex, zlato.
Favorite: Prague Stock Exchange Czech crown Czech economy Commodities Gold Trademarks Prague Weather

Copyright © 2000 - 2018, spol. s r.o., AliaWeb, spol. s r.o.,

ISSN 1801-8688