GDP preliminary estimate - 1. quarter of 2016

Growth of the Czech economy continued

17.05.2016
Code: 050055-16
 

According to the preliminary estimate, the gross domestic product increased in the Q1 2016 by 3.1%, year-on-year; compared to the Q4 2015 it was 0.5% up.

In the beginning of 2016, growth of the Czech economy continued. According to the preliminary estimate, the gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] increased in the Q1 2016 by 3.1%, year-on-year; compared to the Q4 2015 it increased by 0.5%.

The GDP growth was pulled by all components of the demand: by steadily growing consumption of households, slightly increasing investment activity, as well as external trade.

On the labour market, there was a significant improvement in the Q1 2016. Employment in terms of national accounts increased by 1.9%, y-o-y, and by 1.5% in the q-o-q comparison.

 

Note:
Together with the release of the GDP preliminary estimate for the Q1 2016, seasonally adjusted data for 2014 and 2015 were updated (Tables tab_VS and tab_ZS in the time series). More detailed information about the revision can be found in the article Change of approach to the GDP seasonal adjustment which will be published in the May issue of the Statistika&My journal.

Responsible head at the CZSO: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247, e-mail: vladimir.kermiet@czso.cz
Contact person: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247, e-mail: vladimir.kermiet@czso.cz
Used data sources updated as at: 10 May 2016
Related CZSO web page: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next News Release will be published on: 3 June 2016
(GDP resources and uses for the Q1 2016)


[1] Unless otherwise stated, all data presented in this News Release are adjusted for price, seasonal, and calendar effects.

 

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Published: 17.05.2016
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz