GDP Preliminary Estimate - 1st Quarter of 2018

GDP 4.5% up, year-on-year

15.05.2018
Code: 050055-18
 

According to the preliminary estimate, the gross domestic product in the Q1 2018 increased by 0.5%, quarter-on-quarter, and by 4.5%, year-on-year.


The Czech economy growth continued also in the beginning of 2018. The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] was in the Q1 2018, according to the preliminary estimate, by 0.5% higher than in the previous quarter and compared to the Q1 2017 it increased by 4.5%. Unlike in 2017, the GDP growth in the Q1 2018 was driven solely by an increasing domestic demand. An important increase in expenditure of households continued as well as investment expenditure of companies. The gross value added formation was contributed to significantly besides industry by most of the economic activities of services. Construction was also successful.

Employment[2] increased in the Q1 2018 by 0.5%, quarter-on-quarter, and compared to the Q1 2017 it increased by 1.7%.

 

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: Jan Benedikt, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750, e‑mail: jan.benedikt@czso.cz
Used data sources updated as at: 9 May 2018
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: 1 June 2018
(GDP resources and uses for the Q1 2018)


[1] All data presented in this News Release are seasonally adjusted as well as adjusted for calendar effects. 

[2] Employment in terms of national accounts.

 

  •      apoh051518.docx
Archive:
Show all Hide

Published: 15.05.2018
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