The Czech economy shrank by a record 8.7 percent on quarter in the three months to June 2020, more than an initial estimate of an 8.4 percent slump. It also followed a 3.3 percent contraction in the first three months of the year, meaning the country entered a technical recession as the coronavirus pandemic forced non-essential businesses to close and people to stay at home.
GDP Growth Rate in Czech Republic averaged 0.47 percent from 1995 until 2020, reaching an all time high of 2.70 percent in the second quarter of 2017 and a record low of -8.70 percent in the second quarter of 2020. This page provides the latest reported value for - Czech Republic GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Czech Republic GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Czech Statistical Office
GDP Growth Rate in Czech Republic is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Czech Republic to stand at 1.30 in 12 months time. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.90 percent in 2021 and 0.70 percent in 2022, according to our econometric models.