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Analysts: GDP development lagged behind expectations

Czech Republic’s gross domestic product, adjusted for pricing and seasonal factors, grew 2.3% y/y and 0.3% q/q in Q3 2014, according to preliminary estimations made by the Czech Statistical Office (ČSÚ). The results were influenced positively primarily by manufacturing industry. According to some analysts, the initial estimation lags behind expectations. GE Money Bank’s analyst Filip Fyrbach says that this may be due to the weaker result of the foreign trade or the creation of reserves.