Finance Ministry worsens GDP forecast

31-10-2012

The Czech Finance Ministry on Wednesday worsened its forecast for the country’s GDP. According to the revised prediction, gross national product should this year contract by 1.0 percent, down by 0.5 percent from the previous prediction in July. Next year, the ministry expects the Czech GDP to grow by 0.7 percent, down by 0.3 percent from the previous forecast. The ministry said an expected decline in household consumption was behind the worsened outlook.