GDP Preliminary Estimate - 3rd Quarter of 2018

GDP 0.4% up, quarter-on-quarter

14.11.2018
Code: 050055-18
 

According to the preliminary estimate, the gross domestic product in the Q3 2018 increased by 0.4%, quarter-on-quarter, and by 2.3%, year-on-year.


The Czech economy growth continued in the Q3 2018, however, with a slower growth rate than in the previous quarter. The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] was in the Q3 2018, according to the preliminary estimate, by 0.4% higher than in the previous quarter and compared to the Q3 2017 it increased by 2.3%.

Both the domestic and external demand contributed to the positive development of the Czech economy. The GDP growth was the most contributed to by both the final consumption expenditure of households and of the general government. Most economic activities of the national economy were successful. The gross value added formation growth was the most contributed to by economic activities of construction, trade and transportation.  

Employment[2] remained unchanged in the Q3 2018, quarter-on-quarter, and in the year-on-year comparison it increased by 1.2%.

 

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: 8 November 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: 30 November 2018
(GDP resources and uses for the Q3 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: 14.11.2018
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