GDP preliminary estimate - 3rd quarter of 2017

Czech economy growth continued

14.11.2017
Code: 050055-17
 

According to the preliminary estimate, the gross domestic product was 0.5% up in the Q3 2017, quarter-on-quarter, and 5.0% up, year-on-year.

The gross domestic product (GDP) of the Czech economy continued to grow, quarter‑on‑quarter (q-o-q). The GDP adjusted for price effects and seasonally adjusted1 was in the Q3 2017, according to a preliminary estimate, by 0.5% higher compared to the previous quarter and compared to the corresponding quarter of the previous year (y‑o‑y) it increased by 5.0%.

According to the preliminary estimate, the y-o-y growth was contributed to equally by all main expenditure components of the GDP. Domestic demand grew owing to steadily increasing consumption of households and continuing growth of investment expenditure. Most of economic activities of the national economy were successful, especially industry, but also economic activities of services.

On the labour market, the employment continued to grow. In the Q3 2017, employment2 was by 0.8% higher, q-o-q, and compared to the corresponding quarter of the previous year it increased by 2.0%.

___________________
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: Tereza Košťáková, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750,

e‑mail: tereza.kostakova@czso.cz

Used data sources updated as at: 9 November 2017
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 December 2017
(GDP resources and uses for the Q3 2017)



1 All data presented in this News Release are adjusted for seasonal and calendar effects.
2 In terms of national accounts.

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Published: 14.11.2017
The data are valid as of the release date of the publication.


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