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Moore: GDP growth in CR was second slowest in EU

(ČIA) The Czech Republic reported annual GDP growth of 7.8% in 2Q 2021. Compared to the EU average (13.2%), this is below average, second slowest after Finland (7.4%). The Czech Republic has recorded growth or decline worse than the EU average for four consecutive quarters. This is based on an analysis of Eurostat data carried out by Moore Czech Republic. The Czech economy also posted a lower growth rate than the EU average (1.9%) in quarter-on-quarter comparison, growing at the fourth slowest rate of 0.6%. This is mainly due to the differentiated impact of the coronavirus crisis and the ways in which it has been addressed. The domestic economy's dependence on the automotive industry, which is affected by supply chain disruptions, combined with rising input prices and long-term labour shortages, is holding back its growth rate.

 

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