wiiw Forecast Reports
CZECH REPUBLIC: No V-shaped recovery in sight
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in: No Quick Recovery in Sight, with Coronavirus Risks Looming Large
wiiw Forecast Report No. Autumn 2020, November 2020 , pp. 56-59
In the first half of 2020, all the components of aggregate demand (except for public consumption) declined strongly, with foreign trade making a particularly big contribution to the overall drop in GDP. The rise in unemployment has been moderate, but real wages have declined. The modest improvements optimistically expected in the second half of the year will not be enough to compensate for the initial losses. Positive growth may return in 2021, but a strong showing is not expected.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Czechia