April 23, 2020 / 11:48 AM / a month ago

Czech central bank's Nidetzky sees "Nike logo"-shaped recovery

PRAGUE, April 23 (Reuters) - Czech central bank Vice-Governor Tomas Nidetzky expects the economy to experience an initial sharp downturn in economic output followed by a gradual recovery, he said in a podcast posted on the bank’s website on Thursday.

“The scenario that is closest to me describes the economic development in the shape of the Nike logo - certainly there will be some steep drop at the beginning and then gradual growth and return to normal,” he said.

Reporting by Jan Lopatka

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