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GDP shrinks again before intervention

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The Czech economy unexpectedly shrank in the third quarter, underpinning central bank concerns about deflation that prompted policy makers to start the first currency interventions in 11 years last week. Gross domestic product fell 0.5% from the previous quarter after growing 0.6% in the April-June period, according to an initial estimate published yesterday by the Statistics Office. The median estimate in a Bloomberg survey of 14 analysts was for a 0.5% advance. GDP fell 1.6% from a year earlier.

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