Czech economy out of recession
03.09.2013 / 23:26
Rising exports helped the Czech economy get out of record-long recession in the second quarter of 2013.
The economy grew 0.6 percent from the previous quarter. Real gross domestic product fell 1.3 percent in the second quarter from a year earlier.
The Czech economy ended a slump that lasted fox six quarters. The growth is driven only by foreign demand. Exports rose 3.6 percent, outpacing a 2.5 percent increase in imports. Domestic demand did not do very well in the second quarter. Household expenditures dropped 0.4 percent after two consecutive quarterly increases while government spending fell 0.7 percent. Business investments declined 1.5 percent which was really disappointing.