GDP grew by 8.2% y/y and 1.0% q/q. Marek Roječek, chairman of the Czech Statistical Office, said that domestic demand was the main contributor to the growth of the economy. Household consumption was growing strongly and investment activity was also recovering. By contrast, foreign demand was negative. GVA also grew, with the performance of most sectors improving compared to 1Q. Total employment was up 0.3% y/y, the first increase since 3Q 2019. The unemployment rate fell to 2.9% in June. Average wages rose 1.2% y/y to CZK 38,275 in 1Q.
Source: Czech AM News