The Czech economy moved deeper into recession in the second quarter, the preliminary estimate published by the Czech Statistical Office showed Tuesday.
Gross domestic product fell 1.2 percent from a year ago, following a 0.7 percent contraction in the first quarter. The decline exceeded the 1.1 percent drop forecast by economists.
On a sequential basis, the economy shrank 0.2 percent, in line with economists' expectations. GDP was down 0.8 percent in the first three months of 2012.
by RTT Staff Writer
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