The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] increased in the Q2 2022, according to the preliminary estimate, by 0.2% compared to the previous quarter. When compared to the corresponding quarter of the previous year, it increased by 3.6%.

The year-on-year increase of the GDP was positively contributed to by final consumption expenditure and gross capital formation. However, a negative influence of external demand persisted.

The following contributed the most to the year-on-year growth of the gross value added: a group of economic activities of trade, transportation, accommodation and food service activities. Construction and most of economic activities of services were successful, too.

“On the expenditure side, only domestic demand contributed to the quarter-on-quarter growth of the GDP. The moderate growth of the gross value added was supported by a group of economic activities of services, whereas industry and construction were stagnating,” Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), said.

Employment[2] increased by 1.4%, quarter-on-quarter; in the year-on-year comparison, it increased by 2.3%.