From April to June, all service sectors experienced growth, with transportation and storage leading the way. Jana Gotvaldová, head of the Czech Statistical Office’s trade, transport, and services statistics department, highlighted that while transportation and storage made the largest contribution, revenue increases were observed across all sectors within the service industry.

Quarter over quarter, service revenues saw a 0.4% increase, reflecting a consistent growth pattern that underscores a strong recovery and expansion in the Czech service industry.

This positive trend first emerged in the first quarter of 2023, when the service sector in the Czech Republic experienced a significant turnaround. After three consecutive quarters of decline, revenues finally posted year-on-year growth, signaling a potential long-term recovery for the sector.

As the service sector continues to thrive, it is likely to have a positive impact on the Czech economy. The growth across various service industries could lead to more job opportunities, increased consumer spending, and greater economic stability.

Source: CzechDaily

Prepared by the team of foreign offices CzechTrade Osaka and Tokyo