GDP in Czech Republic
Czech Republic - GDP
Economic growth picks up in the final quarter of 2018
Annual GDP growth accelerated from 2.4% in the third quarter to 2.9% in the fourth quarter of 2018 in seasonally- and price-adjusted terms, according to preliminary data released by the Czech Statistical Office (CSO) on 15 February. The print came well above market expectations and proved the economy’s resilience amid a broader slowdown in the Eurozone, its main export market. The main contributors to the fourth-quarter expansion were capital spending, buttressed by soaring public investment, and household consumption growth, propped up by the extremely tight labor market. On a quarter-on-quarter basis, GDP growth also picked up from 0.6% in Q3 to 1.0% in Q4, marking the strongest gain in a year-and-a-half. For the year, growth came in at 3.0%, decelerating from the strong 4.5% expansion logged in 2017.
More detailed national accounts data will be released on 1 March.
The Czech Central Bank expects the economy to expand 2.9% this year and 2.3% in 2020. FocusEconomics Consensus Forecast panelists expect the economy to expand 2.7% in 2019, which is from the previous month’s projection. For 2020, the panel sees GDP increasing 2.6%.
Czech Republic - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | -0.5 | 2.7 | 5.4 | 2.5 | 4.6 |
Czech Republic GDP Chart
Source: Czech Statistical Office and FocusEconomics calculations.
Czech Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.81 | -1.85 % | Feb 14 |
| Exchange Rate | 22.89 | -0.66 % | Feb 14 |
| Stock Market | 1,049 | -0.10 % | Feb 14 |
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Economic News
Czech Republic: Economic growth picks up in the final quarter of 2018
February 15, 2019
Annual GDP growth accelerated from 2.4% in the third quarter to 2.9% in the fourth quarter of 2018 in seasonally- and price-adjusted terms, according to preliminary data released by the Czech Statistical Office (CSO) on 15 February.
Czech Republic: Inflation climbs in January
February 13, 2019
Consumer prices rose 1.0% from the previous month in January, accelerating notably from December’s 0.1% increase.
Czech Republic: Central Bank stays put amid heightened external uncertainty
February 7, 2019
At its first meeting of the year on 7 February, the Bank Board of the Czech National Bank (CNB) kept the two-week repo rate unchanged at 1.75%, marking the second consecutive “hold”.
Czech Republic: Industrial production contracts in December
February 6, 2019
Industrial production declined 1.4% year-on-year in December, contrasting November’s strong 4.8% increase.
Czech Republic: Manufacturing PMI dips to six-year low in January
February 1, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit dipped from 49.7 in December to 49.0 in January, marking the second consecutive monthly contraction of the all-important sector and hitting a six-year low.
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