Recovery On Course, But Austerity To Bite

The Czech economy remains well on course for steady expansion into 2011, with preliminary Q310 real GDP as estimated by the Czech Statistical Office showing a 1.1% q-o-q expansion. While we forecast the Czech economy to remain firmly in expansionary territory into the medium term, we reiterate our view that austerity, both domestically and regionally, will see the pace of growth moderate somewhat in 2011.

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