Czech Q1 GDP Growth Revised Higher

(RTTNews) - The Czech Republic's economy expanded more than initially estimated in the first quarter, the latest data from the statistical office showed on Friday.

Gross domestic product advanced 0.8 percent sequentially, faster than the 0.7 percent expansion in the fourth quarter. In the flash estimate, the rate of growth was 0.5 percent.

On the expenditure side, household consumption expenditure rose 0.1 percent, and gross fixed capital formation advanced by 1.1 percent amid more investments in machinery and equipment and in transport equipment.

Both exports and imports rose by 2.8 percent and 2.1 percent, respectively. Meanwhile, general government expenditure fell by 1.5 percent.

On a yearly basis, GDP growth accelerated to 2.2 percent in the March quarter from 1.8 percent in the previous quarter. The first quarter growth was revised up from 2.0 percent.