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Czech economic growth likely to have remained stable in Q2, full year growth likely to reach 3.1 pct

In the first quarter of this year, the Czech economy had grown 1.5 percent quarter-on-quarter and 3 percent year-on-year following a recent revision. According to an Erste Group Research report, the Czech economic growth is expected to have stayed comparatively stable on a year-on-year basis at about 2.9 percent in the second quarter.

The cyclical position is favourable, as domestic demand continues to be high, while foreign demand has been rebounding consistent with the economic rebound in the euro area. The official statistical office is set to release the flash estimate this week.

“We expect full-year GDP growth to reach approx. 3.1 percent. We see the risks as relatively low and balanced”, added Erste Group Research.

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