FOREX TradingCharts.com

Financial News: Czech GDP Logs Record Fall In Q2

Czech GDP Logs Record Fall In Q2

07/31/2020 - 03:32:00 (RTTNews)

(RTTNews) - The Czech Republic's economy shrank at a record pace in the second quarter, mainly due to the disruption caused by the coronavirus, or Covid-19, pandemic, preliminary figures from the Czech Statistical Office showed on Friday.

Gross domestic product decreased 8.4 percent from the first quarter, when it fell 3.4 percent. Economists were looking for a more severe decline of 12.9 percent.

Two consecutive quarters of GDP decline qualifies as a technical recession. The economy was last in recession during the whole of 2012 and early 2013.

On a year-on-year basis, GDP dropped 10.7 percent in the second quarter after a 2 percent slump in the first three months of the year. Economists had forecast a 14.7 percent decline.

The negative year-on-year GDP development was caused mainly by a marked decrease in external demand and by lower household consumption as well as investment activity, the statistical office said.

In the second quarter, the gross value added (GVA) decreased in almost all economic activities of the national economy, with a markedly negative influence on the GVA coming from industry and a group of economic activities of trade, transportation, and accommodation and food service activities.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Portugal Q2 GDP Decline Revised To 16.3% (18 min(s), 56 sec(s) ago)
(RTTNews) - Portugal's economy contracted slightly less than initially estimated, but the rate ...Full Story»

Dutch GDP Falls Most On Record On Covid-19 Impact (31 min(s), 56 sec(s) ago)
(RTTNews) - The Netherlands' economy shrank at a record pace in the second quarter and entered ...Full Story»

Slovakia Economy In Recession In Q2 (47 min(s), 56 sec(s) ago)
(RTTNews) - Slovakia's economy shrank further in the second quarter amid the disruption caused ...Full Story»

U.S. Business Inventories Slump Slightly Less Than Expected In June (01 hr(s), 50 min(s), 56 sec(s) ago)
(RTTNews) - Business inventories in the U.S. showed a continued decrease in the month of June, acc ...Full Story»

U.S. Consumer Sentiment Unexpectedly Edges Higher In August (02 hr(s), 08 min(s), 56 sec(s) ago)
(RTTNews) - A preliminary reading released by the University of Michigan on Friday unexpectedly sh ...Full Story»

Finland Economy Sinks Into Deep Recession (02 hr(s), 31 min(s), 56 sec(s) ago)
(RTTNews) - Finland's economy shrank for a third consecutive quarter in the three months to Ju ...Full Story»

U.S. Industrial Production Growth Slows But Matches Estimates (02 hr(s), 29 min(s), 56 sec(s) ago)
(RTTNews) - Reflecting sharp increases in manufacturing and utilities output, the Labor Department ...Full Story»

U.S. Productivity Spikes In Q2 As Hours Plummet More Than Output (02 hr(s), 37 min(s), 56 sec(s) ago)
(RTTNews) - Labor productivity in the U.S. soared by much more than expected in the second quarter ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Portugal Q2 GDP Decline Revised To 16.3%

08/14/2020 - 12:01 PM (RTTNews)
(RTTNews) - Portugal's economy contracted slightly less than initially estimated, but the rate ...Full Story>>

Dutch GDP Falls Most On Record On Covid-19 Impact

08/14/2020 - 11:48 AM (RTTNews)
(RTTNews) - The Netherlands' economy shrank at a record pace in the second quarter and entered ...Full Story>>

Slovakia Economy In Recession In Q2

08/14/2020 - 11:32 AM (RTTNews)
(RTTNews) - Slovakia's economy shrank further in the second quarter amid the disruption caused ...Full Story>>

U.S. Business Inventories Slump Slightly Less Than Expected In June

08/14/2020 - 10:29 AM (RTTNews)
(RTTNews) - Business inventories in the U.S. showed a continued decrease in the month of June, acc ...Full Story>>

U.S. Consumer Sentiment Unexpectedly Edges Higher In August

08/14/2020 - 10:11 AM (RTTNews)
(RTTNews) - A preliminary reading released by the University of Michigan on Friday unexpectedly sh ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.