Economic growth to slow down to 2.2% in 2020

Published: 29.01.2020 Related countries:  Czech Republic Czech Republic

Czech economic growth will slow down but will remain solid.

Czech economy maintains a stable growth rate despite the slowdown in Q3 2019; the full-year growth rate in 2019 has been around 2.5%. This stems results from the quarterly report of the Ministry of Industry and Trade (MPO) - Analysis of the Czech Economy Development - January 2020. The economy is driven mainly by services whose growth eliminates the weakening contribution of industry, which is affected mainly by weak foreign demand. Given the unclear situation abroad, the Ministry of Industry and Trade expects the Czech economy to slow down to 2.2% in 2020 from an estimated 2.5% in 2019.

Source: ČIA NEWS, January 29th, 2020
Compiled by the team of CzechTrade office in Riga.