Record seup esk economy. Estimates for the second quarter secret with a slump and 18 percent Companies and markets

In the interim period, economists expect a decline in GDP of 9.7 and 18 percent. The quarter-on-quarter is expected to decline from 7.4 to 14 percent. According to analysts, it can be observed that the economy is deteriorating from the bottom.

The Czech Statistical Ad publishes a preliminary estimate of GDP for the second quarter of 2020 on July 31. With the publication of data for the first time according to the new scheme, ie 14 days two, it was not usual. In addition to the undeniable usefulness of two pieces of information about the economy, however, the data may be burdened by uncertainty, which currently pays double, said the analyst of the Czech savings bank Ji Polansk.

It is especially clear that the title of the coronavirus pandemic and the result of restrictive measures against it will make the interim and quarterly economic downturn unprecedented and historically high, said ING chief economist Jakub Seidler.

He noted that similar developments have occurred in other countries affected by coronavirus. According to estimates, the German economy is expected to fall by nine percent quarter on quarter, and the year-on-year decline will exceed ten percent. In France, there was a quarter-on-quarter decline of 15 percent, and the mezzanine even by five percent, he said.

According to Deloitte’s chief economist David Marek, industry, trade, transport, hospitality and accommodation contributed most significantly to the decline in Czech GDP.

From the party’s demands, a decline in household consumption, investment and the negative contribution of foreign trade can be expected in the second quarter. Vldn, on the other hand, grew. Akcenta’s analyst Miroslav Novk also said that there will be a sharp decline in the high-level industry and that of the services sector, which has been hit hardest by epidemiological measures.

Raiffeisenbank’s chief economist Helena Horsk pointed out that the economy had written off about 180 billion crowns in the second quarter. Losses on sales can be up to 1.5 times, ie 305 billion crowns. Stt has poured about 120 billion crowns into the economy, she said. She added that, according to leading indicators, the economy began to abrade from the bottom in the third quarter.

The fact that the intermittent decline in GDP will deepen in the second quarter is clear, it is only a matter of whether it will be in double digits or not. Msn gives look optimistically. If the revival of economic activity was faster in May and June, it was not expected, it shows the collection of value added tax. The Czech economy is also rising. The decline in GDP in the second quarter would not have to be more than ten percent, said Komern banka economist Martin Grtler.

In the first quarter, the Czech economy fell by two percent. Compared to the previous quarter, GDP was lower by 3.4 percent. This was the largest decline in the Czech economy since the arrest of 2010.

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