Czech Republic GDP Q1 2022

Czech Republic

Czech Republic: Economy expands at faster pace in Q1

May 5, 2022

The economy expanded 4.6% in seasonally-adjusted year-on-year terms in the first quarter of this year, following Q4 2021’s 3.6% increase, supported by progress on the vaccination front and easing restrictions. Meanwhile, output increased 0.7% on a seasonally-adjusted quarter-on-quarter basis in Q1, following the 0.8% rise recorded in Q4.

Although a detailed breakdown is yet to be released, household and capital spending made positive contributions to year-on-year growth in Q1, while external demand and fixed investment growth fueled the quarter-on-quarter expansion.

More detailed national accounts data for Q4 will be released on 31 May.

FocusEconomics analysts see GDP expanding 4.6% in 2022, which is down 0.1 percentage points from last month’s forecast, and 3.6% in 2023.


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