GDP preliminary estimate - 2. quarter of 2016

Czech economy growth accelerated to 0.9% in Q2

16.08.2016
Code: 050055-16
 

According to the preliminary estimate, the gross domestic product increased in the Q2 2016 by 2.5%, year-on-year; compared to the Q1 2016 it was 0.9% up.

In the Q2 of 2016, growth of the Czech economy still belonged to the highest in the European Union. According to the preliminary estimate, the gross domestic product (GDP) adjusted for price effects and seasonally adjusted1 increased in the Q2 2016 by 2.5%, year-on-year; compared to the Q1 2016 it increased by 0.9%.

A key importance for a favourable development of the Czech economy belonged to most industries of manufacturing and services. On the expenditure side, mainly the following contributed to the GDP growth: external demand and steadily growing consumption of households.

Also in the Q2, the economic growth had a positive influence on the labour market: by the employment growth2. The employment increased by 1.6%, year-on-year, and by 0.3%, quarter-on-quarter.

 

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1 Unless otherwise stated, all data presented in this News Release are adjusted for price, seasonal, and calendar effects.

2 In terms of national accounts.

 

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: Tereza Košťáková, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750, e‑mail: tereza.kostakova@czso.cz
Used data sources updated as at: 10 August 2016
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: 2 September 2016
(GDP resources and uses for the Q2 2016)

 

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Published: 16.08.2016
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