According to preliminary data from the Czech Statistical Office, the share of GDP decreased by 0.3 percent compared to the previous quarter, although expectations predicted an increase. Bloomberg.
Compared to the previous year, the Czech economy contracted by 0.6 percent. Czech Republic closes annually 300 billion GDPThe reason behind this decline is that stagnant domestic consumption was unable to balance increasing foreign demands. Our northwestern neighbor is struggling to recover from the recession, while having to confront the highest inflation rate in the past three decades, which the Czech Central Bank has tried to limit to limit borrowing and reduce household spending.
vs. Census Bureau data A Czech National Bank CNB expected an increase of 0.7%. Jan KubitschekMember of the Board of Directors of the Central Bank last week He is DonThe data published in the last days of October will likely show a deterioration, and the reason, he says, should be sought in the economic weakness of the largest trading partner, Germany.
Jan Kubisek believes that budget cuts could reduce consumption next year by more than one percentage point. China’s central bank leaders will meet on Thursday to decide whether to start cutting the key interest rate, which the central bank has maintained at 7% since 2022. Financial markets are anticipating rate cuts in November and December, but central bank staff have indicated they are waiting for more. From the data to see how the 2% inflation target can be maintained.
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