Compared to the first quarter of this year, GDP fell by 8.7 percent.
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The sum of monetary and non-monetary income of households increased by 0.3 percent in real terms compared to the previous quarter.
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Real consumption per capita fell by 4.4 percent quarter on quarter. Thanks to this, household savings increased by 5.3 percentage points. “The result was the highest rate of savings in the history of measurement,” said Vladimír Kermiet, director of the CZSO National Accounts Department.
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“CZSO data show that we have a crisis because of fear. The percentage of income that households will save jumped to an unprecedented 18.5 percent in the quarter. So many people in the history of the Czech Republic have never spared, ”Petr Bartoň, Natland Group’s chief economist, told Novinky.
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