Survey: Czech companies expect slow economic recovery in 2010

27-12-2009

Most Czech companies expect a slight economic improvement in 2010, according to a survey by the news agency ČTK among Czech corporate associations released on Sunday. Most firms also believe that a recovery from the global economic downturn will last longer. The Small and Mid-Sized Businesses Association said that export-oriented firms should recover faster than companies focusing on consumer markets, as a further drop in retail demand is expected next year. However, 9 out of 10 companies expect to make profit in 2010. Most firms are not planning lay-offs for next year. The Czech Republic’s Confederation of Industry said the in 2010 and 11, Czech economy is likely to maintain the output registered in November and December this year, with the unemployment rate remaining at around 10 percent.