Czech economy on verge of crisis
Posted in the Czech Republic Forum
#1 Jul 10, 2012
The Czech economy fell into a recession in the fourth quarter of 2011 as it dropped 0.2 percent quarter on quarter. In the first quarter of 2012, GDP lost 0.8 percent on the quarter, according to the Czech Statistical Office (ČSÚ). Jaroslav Ungerman, chief economist for the Bohemian and Moravian Confederation of Trades Unions (ČMKOS), comments on the worrying state of the Czech economy.
While the Czech public paid little attention to the latest economic data, the time will almost certainly come when it will be impossible to ignore. The data suggest the outlook for at least the next year is decidedly grim.
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