The economy slowed down slightly in the third quarter

The data on this year‘s third quarter Czech economic development show that the Czech GDP will grow 2,3 percent in 2014. The economy will grow more slowly than awaited as the experts have formerly calculated the growth as about 2,5 percent. At the same time, the analysts have stressed that the Czech economy is in good shape in comparison to the rest of the European union.

"The preliminary estimate of the real GDP growth on the level of 2,3 percent is a number that doesn’t  differ from our expectations, that the Czech economy‘s growth tempo  will ease off due to the comparative basis development, although the growth itself will continue in the second half of this year," the Confederation of Industry’s analyst Bohuslav Čížek wrote.

The quarterly data on the real GDP have been a little bit better than in the third quarter (2,6 percent in the first quarter and 2,5 percent in the second quarter of this year), but the contemporary economic development is viewed as rather positive. The quarter-over-quarter comparison shows that the economy has continued its growth that amounts to 0,3 percent.

Our last summerly prognosis has been working with a 2,2 percent value. Beside this number we could find other positive factors as a larger stabilization of the domestic demand than awaited, more positive expectations or ability of many companies to maintain their contracts despite the eurozone‘s slowdown.

The position of the Czech industry remains strong as the September numbers have confirmed.

In general, we can evaluate this year’s Czech economy results as „slightly above the expectations“ with a „slightly prevailing optimism“ as to the further development.