“The easing of anti-epidemic measures has enabled households to partially realize deferred consumption. Household expenditures on services also increased, ”stated Vladimír Kermiet, Director of the CZSO National Accounts Department.
–
“On the other hand, due to a lack of components in a number of industries, inventories of work in progress increased, which also had an impact on exports of goods,” Kermiet added.
–
Foreign demand contributed to the year-on-year growth. “Preliminary data on GDP for the second quarter thus showed that problems in supply and demand chains are a really strong brake on the industrially tuned Czech economy and that Czech households have not yet rushed headlong into spending,” added Miroslav Novák, an analyst at Akcenta.
–
In the same period last year as in the first period of this year, the development of the economy was marked by closures due to the global pandemic.
–
In the second quarter of 2020, GDP fell by 10.8 percent year on year. In the first quarter of this year, economic performance fell by 2.4 percent.
—
