GDP down 0.4% in Q1, industry up, construction down

Published: 05.06.2023 Related countries:  Japan Japan

The country's gross domestic product (GDP) contracted by 0.4% y/yin Q1 2023.

The decline was mainly driven by lower household finalconsumption expenditure and a decline in inventories. On the otherhand, external demand had a positive effect. This is according toa refined estimate by the Czech Statistical Office. Gross valueadded (GVA) rose by 1.1%. Industry +0.4 pp (1.6% growth) and realestate activities +0.4 pp (+4.5%) contributed the most to the growth.The construction sector had a negative impact of -0.2 pp (-3.8%).The foreign trade balance reached CZK 93.7bn at current prices andwas CZK 92.7bn higher.