Czech Economy Rebounds 0.2% In Q4

(RTTNews) - The Czech Republic's economy expanded as expected in the final quarter after contracting in the previous quarter, preliminary figures from the statistical office showed on Tuesday.

Gross domestic product advanced 0.2 percent sequentially, reversing a 0.6 percent fall in the third quarter.

"The growth was mainly supported by external demand and, after a long time, also by the final consumption expenditure of households," Vladimir Kermiet, Director at the statistical office, said.

On a yearly basis, GDP decreased 0.2 percent in the December quarter versus a 0.8 percent contraction in the September quarter. That was also in line with expectations.

During the whole year 2023, the overall GDP showed a decline of 0.4 percent compared with 2022. The downward trend was largely due to a decrease in the final consumption expenditure of households and a change in inventories.