ČSÚ confirmed 5.0% GDP increase in 3Q 2017

Published: 04.12.2017 Related countries:  Israel Israel

Czech Statistical Office and OECD : Strong GDP growth in 2017 and positive prediction for next two years.

In 3Q 2017 the economy of the Czech Republic grew 5.0 % y/y. GDP grew 0.5 % q/q. This is based on the Czech Statistical Office’s (ČSÚ) updated estimate. Gross value added was up 0.6 % q/q and 5.1 % y/y. On the demand side the y/y growth of GDP was supported equally by all of its main components. An increase in investment activity was primarily supported by investments into housing and machinery. In a q/q comparison the creation of fixed capital remained unchanged and was up 7.5 % y/y.

According to OECD prediction, Czech Republic’s GDP will grow 4.3% in 2017, while in the next two years the growth rate will drop to 3.5% (2018) and 3.2% (2019). The economy’s performance will be supported by strong domestic demand and export. Low unemployment will press inflation above the central bank’s 2% target.