Czech Q2 GDP Growth Confirmed At 0.4%

(RTTNews) - Czechia's economic growth accelerated somewhat as initially estimated in the second quarter, the latest data from the statistical office showed on Friday.

Gross domestic product advanced 0.4 percent sequentially, following a 0.2 percent rise in the first quarter. That was in line with the flash data published on July 30.

Increased household consumption, capital investment, and external demand drove the quarterly expansion.

The expenditure breakdown showed that household final consumption expenditure increased 0.5 percent and government expenditure rose marginally by 0.1 percent. Gross fixed capital formation was 1.5 percent higher. 

Exports grew 0.9 percent, supported by more outflows of motor vehicles, computers, electronic and optical products, and electrical equipment. Meanwhile, imports were unchanged compared to the previous quarter.

On a yearly basis, the economic growth moderated to 1.9 percent from 2.2 percent. In the flash report, the expansion was 2.0 percent. Gross fixec capital formation grew sharply by 7.1 percent on the back of investments in dwellings, other buildings and structures, and transport equipment.