The Czech Republic economy expanded a record 6.9 percent quarter-on-quarter in the third quarter of 2020, higher than initial estimates of a 6.2 percent rise, and following a record 8.7 percent slump in the previous period, as the economy rebounds from the coronavirus crisis. Household spending increased 5 percent, exports jumped 26.2 percent and imports 16.3 percent. In contrast, gross fixed capital formation shrank 5 percent and government spending edged down 0.6 percent. In the fourth quarter of the year, the government adopted more restrictions like school and shop closures aiming to reduce the spread of the coronavirus although factory gates have remained open. source: Czech Statistical Office
GDP Growth Rate in Czech Republic averaged 0.53 percent from 1995 until 2020, reaching an all time high of 6.90 percent in the third quarter of 2020 and a record low of -8.70 percent in the second quarter of 2020. This page provides the latest reported value for - Czech Republic GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Czech Republic GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
GDP Growth Rate in Czech Republic is expected to be -3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Czech Republic to stand at 1.10 in 12 months time. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.90 percent in 2021 and 0.70 percent in 2022, according to our econometric models.