GDP Preliminary Estimate - 4th quarter of 2023
GDP decreased by 0.4% in 2023
According to a preliminary estimate, the gross domestic product decreased by 0.4% in 2023. In the Q4 2023, the GDP decreased by 0.2%, year-on-year; in the quarter-on-quarter comparison, it increased by 0.2%.
The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] was by 0.4% lower in 2023 compared to 2022, according to the preliminary estimate. The development was influenced by a decrease in final consumption expenditure of households and by a change in inventories. On the other hand, mainly external demand had a positive influence. The development of the gross value added was especially supported by manufacturing and information and communication. A group of economic activities of trade, transportation, and accommodation and food service activities had a negative influence.
“In the last quarter of 2023, the GDP increased by 0.2%, quarter-on-quarter. The growth was mainly supported by external demand and, after a long time, also by final consumption expenditure of households,” Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), comments on the data.
On the gross value added formation side, mainly manufacturing was successful in the Q4 2023, in the quarter-on-quarter comparison. In the year-on-year comparison, the GDP decreased by 0.2%. In the year-on-year comparison, a negative influence of the gross capital formation outweighed an increase in the external demand.
Employment[2] increased by 0.7% in 2023. In the Q4 2023, employment decreased by 0.1%, quarter-on-quarter; compared to the corresponding quarter of the previous year, it increased by 0.4%.
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: 22 January 2024
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 March 2024(GDP resources and uses for the Q4 2023)
- year 2023 | 4th quarter of 2023 | 3rd quarter of 2023 | 2nd quarter of 2023 | 1st quarter of 2023
- year 2022 | 4. quarter of 2022 | 3. quarter of 2022 | 2. quarter of 2022 | 1. quarter of 2022
- year 2021 | 4. quarter of 2021 | 3. quarter of 2021 | 2. quarter of 2021 | 1. quarter of 2021
- year 2020 | 4th quarter of 2020 | 3rd quarter of 2020 | 2nd quarter of 2020 | 1st quarter of 2020
- year 2019 | 4th quarter of 2019 | 3rd quarter of 2019 | 2nd quarter of 2019 | 1st quarter of 2019
- year 2018 | 4th Quarter of 2018 | 3rd Quarter of 2018 | 2nd Quarter of 2018 | 1st Quarter of 2018
- year 2017 | 4th quarter of 2017 | 3rd quarter of 2017 | 2nd quarter of 2017 | 1st quarter of 2017
- year 2016 | 4. quarter of 2016 | 3. quarter of 2016 | 2. quarter of 2016 | 1. quarter of 2016
- year 2015 | 4th quarter of 2015 | 3rd quarter of 2015 | 2nd quarter of 2015 | 1st quarter of 2015
- year 2014 | 4 quarter 2014 | 3 quarter 2014 | 2 quarter 2014 | 1 quarter 2014
- year 2013 | 4th quarter of 2013 | 3rd quarter of 2013 | 2nd quarter of 2013 | 1st quarter of 2013
- year 2012 | 4th quarter of 2012 | 3rd quarter of 2012 | 2nd quarter of 2012 | 1st quarter of 2012
- year 2011 | 4th quarter of 2011 | 3rd quarter of 2011 | 2nd quarter of 2011 | 1st quarter of 2011
- year 2010 | 4th quarter of 2010 | 3rd quarter of 2010 | 2nd quarter of 2010 | 1st quarter of 2010
Published: 30.01.2024
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