GDP preliminary estimate - 2 quarter 2014

GDP increased in the Q2 by 2.6%, y-o-y

According to the preliminary estimate, the gross domestic product increased in the Q2 2014 by 2.6%, year-on-year; compared to the previous quarter it remained unchanged.

According to the preliminary estimate, in the Q2 2014 the gross domestic product (GDP) adjusted for price effects and seasonally adjusted ^*/ increased by 2.6%, year-on-year; compared to the Q1 2014 it remained unchanged.

It was of key importance for the positive development of the economy and gross value added formation that manufacturing continued in its recovery. Successful were especially manufacture of transport equipment, rubber and plastic products. On the contrary, the gross value added decreased, year-on-year, in financial service activities.

In the quarter-on-quarter comparison, the GDP remained unchanged, namely due to significant drop in income from the excise tax on tobacco products resulting from stocking up in the end of 2013 on the account of the Q1 and Q2 2014.

Employment in terms of national accounts and seasonally adjusted increased by 0.1%, y-o-y, in the Q2 2014; it remained unchanged in the q-o-q comparison. In the Q2 2014, 5.1 million persons were employed in the national economy.
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^*/ Unless otherwise stated, all data presented in this News Release are adjusted for price, seasonal, and calendar effects.


Contact person: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247 , e-mail: vladimir.kermiet@czso.cz
Used data sources updated as at: 11 August 2014
Related CZSO web page: /csu/czso/1-aktual-hdp
Next News Release will be published on: 29 August 2014 (GDP resources and uses for the Q2 2014)

Published: 14.08.2014
The data are valid as of the release date of the publication.