Q2 GDP Print Affirms Conservative Forecast

The 2.2%y-o-y flash estimate for Czech Q210 real GDP growth released by the Czech Statistical Office on August 13 is in line with our view that the domestic economy will see only a modest recovery in 2010. Indeed, growth currently appears to be entirely dependent upon a resurgence in export demand, with fiscal austerity and tepid private consumption set to continue weighing on the domestic economy into 2011.

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