GDP in Czech Republic
Czech Republic - GDP
GDP growth records quickest expansion since Q2 2021 in Q1 2022
GDP growth gathered pace to 4.8% in the first quarter, from 3.6% in the fourth quarter of last year. Q1's reading marked the best reading since Q2 2021.
Household spending increased 8.5% in the first quarter, which was below the fourth quarter's 9.3% expansion. Government consumption picked up to a 2.0% expansion in Q1 (Q4 2021: +1.0%). Fixed investment growth increased to 7.4% in Q1, compared to the 3.0% expansion logged in the prior quarter.
On the external front, exports of goods and services contracted at a slower rate of 0.1% in the first quarter, which marked the best reading since Q2 2021 (Q4 2021: -5.7% ). Conversely, imports of goods and services growth edged down to 3.7% in Q1 (Q4 2021: +4.0%), marking the worst reading since Q4 2020.
On a seasonally-adjusted quarter-on-quarter basis, economic growth accelerated to 0.9% in Q1, from the previous quarter's 0.8% growth.
FocusEconomics analysts see GDP expanding 3.6% in 2022, which is down 0.1 percentage points from last month’s forecast, and 4.5% in 2023.
Czech Republic - GDP Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 5.4 | 2.4 | 4.5 | 2.8 | 2.5 |
Czech Republic GDP Chart
Source: Czech Statistical Office and FocusEconomics calculations.
Czech Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.64 | -1.85 % | Dec 31 |
| Exchange Rate | 22.76 | -0.66 % | Dec 30 |
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Economic News
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Czech Republic: The Czech National Bank continues its tightening cycle in June
June 23, 2022
At its 22 June meeting, the Board of the Czech National Bank (CNB) decided to raise the two-week repo rate by 125 basis points, from 5.75% to 7.00%, marking the ninth consecutive hike and bringing the key rate to its highest level since 1999.
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Czech Republic: Inflation increases in May
June 13, 2022
Consumer prices rose 1.76% from the previous month in May, decelerating slightly from April's 1.79% increase.
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Czech Republic: Industrial output records largest drop in six months in April
June 9, 2022
Industrial output dropped 3.8% year on year in working-day adjusted terms in April (March: -1.3% yoy).
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Czech Republic: Manufacturing PMI drops to lowest value in one year and a half in May
June 3, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) dropped from April's 54.4 to 52.3 in May, the lowest value since October 2020.
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Czech Republic: GDP growth records quickest expansion since Q2 2021 in Q1 2022
June 2, 2022
GDP growth gathered pace to 4.8% in the first quarter, from 3.6% in the fourth quarter of last year.
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