Australian Dollar vs Canadian Dollar

0.00081 (0.09%)
Name Symbol Market Type
Australian Dollar vs Canadian Dollar FX:AUDCAD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00081 0.09% 0.88811 0.88692 0.8893 0.888895 0.8859118 0.8873 0 21:02:22

Czech Economy Enters Recession In Q4 With 0.3% Contraction

31/01/2023 4:37am


Forex Chart

From Nov 2022 to May 2023

Click Here for more AUD vs CAD Charts.

The Czech Republic's economic output contracted for the second straight quarter in the three months ended December, largely due to lower household consumption, thus entering a technical recession, preliminary estimates from the statistical office showed on Tuesday.

Gross domestic product decreased 0.3 percent sequentially in the fourth quarter, following a 0.2 percent fall in the third quarter. Economists had forecast a 0.6 percent fall. 

By contracting further in the last quarter of 2022, the economy has now entered into a technical recession, which is described as two quarters of output decline in a row.

On a yearly basis, the economic growth eased notably to 0.4 percent in the December quarter from 1.5 percent in the September quarter.

The overall annual increase was mainly supported by gross capital formation and external demand. On the other hand, final consumption expenditure had a negative influence, the agency said.

During the year 2022, overall growth in GDP was 2.5 percent, underpinned by expenditure on gross capital formation and by external demand. Nonetheless, the contribution of household final consumption was negative during the final quarter.

Data also showed that employment decreased 0.3 percent quarterly, while it rose 1.5 percent on an annual basis in the fourth quarter.

"The outlook for the economy has brightened a bit in recent months as natural gas prices have fallen sharply and business and consumer sentiment has improved, but we still think GDP is likely to be weaker than most other analysts expect over 2023 as a whole," Capital Economics economist Nicholas Farr said.

1 Year AUD vs CAD Chart

1 Year AUD vs CAD Chart

1 Month AUD vs CAD Chart

1 Month AUD vs CAD Chart
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 |

V: gb D: 20230528 20:17:27