Czech Republic: Upbeat economic forecasts despite ministry downgrade

Written by on August 3, 2013 in Europe - No comments

An upturn in the Czech Republic’s economic fortunes has been predicted by analysts, their upbeat assessment contrasting with a recently downgraded forecast from the country’s Finance Ministry.

Improvements in monthly economic data could indicate that the country will have returned to growth in the second quarter of this year, according to Czech Republic-based economists.

Václav Franče, a macroeconomic analyst with Raiffeisenbank, said purchasing managers’ index data – in June the index reached 51, with anything above 50 representing growth – indicated the economy was already starting to expand.

“Industrial production posted some monthly growth. Consumer confidence as well is improving,” he said.

Franče made his comments in response to a revised forecast for the economy from the Finance Ministry.

For the full story, please visit The Prague Post

(Photo: Gisela Royo/sxc.hu)

 

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