GDP in Czech Republic

Czech Republic GDP | Economic News & Forecasts

Czech Republic - GDP

Economy posts robust annual growth rate in Q3

The Czech economy slowed from multi-year-high 2.5% growth in Q2 to 0.5% growth in Q3, in quarter-on-quarter seasonally- and price-adjusted terms, according to preliminary data released by the National Statistics Office (CSO) on 14 November.

In annual terms, the economy posted an impressive 5.0% growth figure in the third quarter of the year, which is above the prior quarter’s 4.7% expansion. Economic activity was buoyed in the third quarter by all main expenditure components of GDP, according to the CSO. Household consumption grew steadily and was likely underpinned by tight labor market conditions coupled with low inflation.

The positive narrative is likely to continue through year-end, translating into a higher pace of expansion in 2017 compared to the previous year. Household spending and external demand should underpin growth.

More detailed data will be released on 1 December.

The Czech Central Bank expects the economy to expand 3.4% in 2018 and 3.1% in 2019. FocusEconomics Consensus Forecast panelists expect the economy to expand 2.6% in 2018, which is unchanged from the previous month’s projection. For 2019, the panel sees GDP increasing 2.6%.

Czech Republic - GDP Data

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)-0.7  -0.5  2.7  5.4  2.5  

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Czech Republic GDP Chart

CzechRepublic GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Czech Statistical Office and FocusEconomics calculations.

Czech Republic Facts

Bond Yield1.73-1.85 %Nov 17
Exchange Rate21.71-0.66 %Nov 17
Stock Market1,055-0.10 %Nov 17

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