Quarterly GDP preliminary estimate - 3rd quarter of 2011

GDP growth stopped in Q3 2011

15.11.2011
Code: r-5001-11
 




In Q3 2011, gross domestic product adjusted for price, seasonal and calendar effects increased by 1.5%, year-on-year (y-o-y), according to preliminary estimate; compared to Q2 2011 it remained unchanged. Total employment decreased by 0.1%, y-o-y, however, compared to Q2 2011 it increased by 0.5%.


* * *

In Q3 2011, according to the preliminary estimate, gross domestic product (GDP) adjusted for price, seasonal and calendar effects */ increased by 1.5%, y-o-y. Nevertheless, compared to Q2 2011 it stagnated and thus confirmed the trend of gradual slowing down of the economy performance growth.
Gradual decrease of the domestic demand was also during Q3 compensated by positive development of external trade, which even despite decrease in foreign demand remains the only increasing GDP expenditure component.
On the supply side of the economy, it was manufacturing, which continued to be the main source of the growth – and within that, mainly manufacture of transport equipment. On the contrary, y-o-y drops of the gross value added had the opposite effect especially in agriculture and construction.

Total employment in terms of national accounts (seasonally adjusted) decreased by 0.1%, y-o-y, in Q3 2011; however, in the quarter-on-quarter comparison (after two successive drops) it increased by 0.5%, i.e. by 28 thousand persons.

__________________________________________

*/ Unless otherwise stated, all data presented in this news release are adjusted for price, seasonal and calendar effects.



Notes:
Contact person: Jan Heller, phone (+420) 274 052 865, e-mail: jan.heller@czso.cz
The standard estimate of GDP formation and use for Q3 2011 will be published according to the Catalogue of Publications on 9 December 2011.



  • ahdp111511.doc

Archive:
Show all Hide

Published: 15.11.2011
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