Citibank: GDP to decrease one per cent this year

  • 25. 09. 2012

PRAGUE (ČIA) – According to a prediction made public by Citibank, the gross domestic product in the Czech Republic will fall 1% this year.

PRAGUE (ČIA) – According to a prediction made public by Citibank, the gross domestic product in the Czech Republic will fall 1% this year. Analysts with Citibank predict a recovery of the economy by 0.4% in 2013. According to Jaromír Šindel, an economist with Citi Research, the prediction for the year 2012 has been reviewed upwards thanks to a slightly positive review of GDP in the first half of this year. The outlook for 2013 remains negative, which reflects a weak foreign demand. The analysts predict a decrease in the euro area GDP by 0.9% y/y in 2013.