Growth of Czech GDP will slow to 3.0 %

Published: 13.07.2018 Related countries:  Israel Israel

Updated data published by European Commission are showing slight drop in growth.

In 2018 the growth rate of the Czech economy will slow down y/y to 3.0 %, from 4.3 %. In 2019 the dynamic will further fall to 2.9 %. This is based on the European Commission’s (EC) summer forecast. The performance of the economy will be supported especially by strong domestic demand. Private consumption should continue to be supported by an increase in salaries and strong consumer confidence. The inflation rate should reach the target 2% level owing to a rate increase by the Czech National Bank. For the EU and euro area the EC expects GDP to grow 2.1 % in 2018 and 2.0 % in 2019. The performance of the economy in Slovakia will accelerate to +3.9 % in 2018 and +4.2% in 2019.