Quarterly GDP preliminary estimate - 3rd quarter of 2010

GDP up by 3.0% in the third quarter, year-on-year

In Q3 2010, GDP adjusted for price, seasonal and working day effects increased by 3.0%, y-o-y, and compared to Q2 by 1.1%. Total employment increased by 0.5%, quarter-on-quarter, and virtually reached the level of Q3 2009.

In Q3 2010, according to the preliminary estimate, real GDP (adjusted for seasonal and working day effects) increased by 3.0% in comparison to Q3 2009. Compared to Q2 2010, GDP was by 1.1% higher. Performance of the economy has been thus gradually increasing after it hit the bottom in Q2 2009. The GDP increase both y-o-y and q-o-q was caused mainly by growth in industries of manufacturing and trade; gross value added has stagnated in industries of services. On the contrary, a big decrease of the real gross value added in agriculture was affected also by unfavourable climatic conditions. Without adjustment for working day effect, GDP in Q3 2010 increased by 2.7%, y-o-y.

Total employment in terms of national accounts decreased only slightly by 0.1% (seasonally adjusted), y-o-y. The number close to the 2009 level was mainly influenced by the development namely in the recent quarter, in which the number of persons employed increased by 0.5%, q-o-q. Except for services, all basic industries recorded partial increase.
The standard estimate of GDP formation and use will be published on 9 December 2010.

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Contact: Jan Heller, phone (+420) 274 052 865, e-mail: jan.heller@czso.cz

Published: 12.11.2010
The data are valid as of the release date of the publication.