GDP Preliminary Estimate - 2nd Quarter of 2018

Czech economy 2.3% up, year-on-year

14.08.2018
Code: 050055-18
 

According to the preliminary estimate, the gross domestic product in the Q2 2018 increased by 0.5%, quarter-on-quarter, and by 2.3%, year-on-year.

The Czech economy growth continued also in the Q2 2018. The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] was in the Q2 2018, according to the preliminary estimate, by 0.5% higher than in the previous quarter and compared to the Q2 2017 it increased by 2.3%. In the quarter-on-quarter (q-o-q) comparison, the Czech economy thus still keeps its performance; however, in the year-on-year comparison the dynamics of growth dropped due to a high comparison basis.

Domestic demand continued to be crucial for the positive development of the economy. The following contributed the most to the GDP growth: consumption expenditure of households followed by investment expenditure of companies. Also external trade positively contributed to the GDP development. The gross value added formation was contributed to most significantly by manufacturing and economic activities of trade and construction.

Employment[2] increased in the Q2 2018 by 0.6%, q-o-q, and compared to the Q2 2017 it increased by 1.9%.

 

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: 7 August 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: 31 August 2018
(GDP resources and uses for the Q2 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.

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Published: 14.08.2018
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