Czech Republic: Economy contracts in Q3
The economy shrank 0.3% in seasonally adjusted quarter-on-quarter terms in Q3, following Q2’s flat reading. Meanwhile, output decreased 0.6% on a seasonally adjusted year-on-year basis in Q3, matching the 0.6% contraction recorded in Q2.
According to a press release, domestic demand weighed on quarter-on-quarter growth. Moreover, employment decreased by 0.7% quarter on quarter.