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Coronavirus

The Czech Economy Has Slightly Recovered in the Third Quarter of 2020

October 30, 2020

PRAGUE — The Czech economy has slightly recovered in the third quarter of 2020 following a record decline in the previous three months.

The preliminary figures published by the Czech Statistics Office on Friday show the Czech economy contracted by 5.8% year-on-year but increased by 6.2% compared with the previous quarter.

In the second quarter, the Czech economy contracted by a record of 10.9% year-on-year.

Analysts expect the recovery to be limited because the Czech Republic is currently experiencing one of Europe's worst coronavirus outbreaks and has imposed tight restrictive measures that will slow business activity again.

Bars, restaurants, hotels and most stores have been closed among other measures to curb a record surge in known infections.

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