Gross domestic product in the Czech Republic, adjusted for price effects and seasonality, grew by 8.2% y/y in 2Q 2021, according to a revised estimate by the Czech Statistical Office, which showed that it was 1.0% higher than in 1Q. The positive quarter-on-quarter development was mainly supported by growth in final household consumption and gross fixed capital formation. Gross value added was 0.7% higher q/q and 8.4% higher y/y.
The year-on-year growth of GVA was mostly influenced by developments in industry (contribution of 5.2 pp, growth of 19.9%). Gross fixed capital formation increased by 4.2% q/q and 1.5% y/y. There was more investment in housing, purchase of transport equipment, and other machinery and equipment. In terms of price developments, the annual headline GDP deflator reached 4.3%.
Source: CIANEWS CZ