Deloitte CZ: Economy comes in for soft landing

Deloitte CZ: Economy comes in for soft landing

Published at: 2020-01-03 11:59 | Author: CIJEurope.com
Those hoping the Czech economy would come in for a soft landing from its extended boom should be happy, according to the newest research from Deloitte. The consultancy had been slightly less optimistic a year ago, predicting that growth would fall to 2.2 percent in 2019. As of the end of the third quarter, however, GDP growth for the year stood at 2.5 percent. Consumer activity helped the figures, growing 2.6 percent over the first nine months of the year on the back of low unemployment and rising wages. The 3.3 percent rise in government spending didn't hurt either but this didn't prevent manufacturers from reducing their outlays for new equipment. Somewhat unexpected, according to Deloitte, was the 1.9 percent rise in exports, while imports rose 1.6 percent. For next year, writes the company, growth of just 2 percent should be expected.

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