The Czech recession has deepened still further. In the first quarter of 2012, GDP dropped by 0.8 percent, due to a decrease in domestic demand, according to data published by the Czech Statistical Office. Now, Komerční banka is predicting a decline of 0.5% for the Czech economy this year. Household consumption dropped by 2.3 percent q-o-q, while fixed investments decreased by 8.6 percent q-o-q. The Czech Statistical Office also revised its number from previous quarters; according to new data, the Czech economy did not enter recession in the third quarter of 2011 but in the fourth quarter 2011, when GDP decreased by 0.2 percent q/q.
