According to the flash estimate released on 13 May by the National Statistics Office, GDP grew 2.5% in the first quarter over the same period last year, which was only a notch below the previous quarter's growth of 2.6%. The expansion was broadly in line with market expectations but overshot the Central Bank's growth estimate of 2.3%. According to the National Statistics Office, the main driver behind the expansion was a stronger external sector, with exports pushing higher and exceeding import growth. In contrast, domestic demand remained subdued, dragged by a weak expansion in government consumption as a result of the austerity measures implemented by the government. A quarter-on-quarter comparison supports the notion of the relatively robust expansion implied by the annual data, as GDP grew a seasonally and working-day adjusted 0.6% over the previous quarter. Complete and more detailed data will be published on 9 June. Owing to the significant austerity measures adopted by the government, the Central Bank sees the economy growing a moderate 1.5% this year, which was revised down from its previous 1.6% estimate. For 2012, the Bank expects economic growth to accelerate to 2.8%, which is also down from its previous 3.0% projection.
Czech Republic GDP
Economic growth remains broadly stable in first quarter
May 13, 2011
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Czech Republic Economic News
October 24, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from September’s 97.1 points to 97.5 points in October, marking a nine-month high.
October 10, 2016
In September, consumer prices fell 0.2% from the previous month, matching August’s reading.
October 7, 2016
Industrial production grew 13.1% year-on-year in August, which sharply contrasted the 14.1% fall registered in July and was the best result since May 2011.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit rose from August’s 50.1 to a four-month high of 52.0 in September.
September 29, 2016
At its meeting on 29 September, the Czech National Bank (CNB) decided to leave the two-week repo rate unchanged at its so-called “technical zero” of 0.05%.