The Czech economy growth continued also in the Q2 2018

Published: 14.08.2018 Related countries:  U.S.A. U.S.A.

According to the preliminary estimate, the gross domestic product in the Q2 2018 increased by 0.5%, quarter-on-quarter, and by 2.3%, year-on-year.

Czech Statistical Office: The gross domestic product (GDP) was in the Q2 2018 by  0.5% higher than in the previous quarter and compared to the Q2 2017 it increased by 2.3%. According to Czech Statistical Office, in the quarter-on-quarter (q-o-q) comparison, the Czech economy thus still keeps its performance; however, in the year-on-year comparison the dynamics of growth dropped due to a high comparison basis.

Domestic demand continued to be crucial for the positive development of the economy. Expenditure of households followed by investment expenditure of companies contributed the most to the GDP growth. Also external trade positively contributed to the GDP development. The gross value added formation was contributed to most significantly by manufacturing and economic activities of trade and construction.

Published by the team of CzechTrade foreign office in Chicago.

Source: https://www.czso.cz/csu/czso/ari/gdp-preliminary-estimate-2nd-quarter-of-2018