Page 47 - CE Outlook Regions 2022
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3.0 Real economy outlook
3.1 Real economy - Czech Republic
3.1.1 Retail
The favourable pandemic situation during summer 2021 allowed the
Czech retail sector to operate almost without constraints and thus let
the Czech economy continue its path to a recovery.
According to the CNB, the profit margins of goods sellers and
service providers in Czechia are projected to fall over time as
households and firms gradually take the growth in real interest rates
into account in their decisions, which will lead to a reduction of their
consumption appetite and willingness to accept rapid price growth.
The highest growth in retail sales in Czechia in 2021 was recorded
in e-commerce which is, also due to the difficult epidemic situation in
the country, expected to continue in 2022.
As stated by the analysts of Trading Economics, annual retail sales
in Czechia are expected to reach 2.2% in 2022, followed by further
growth at 3.8% in 2023.
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