The Czech economy advanced 2.6 percent from a year earlier in the first quarter of 2019, above the initial estimate of 2.5 percent and at the same pace as in the previous period. Household consumption rose faster (2.7 percent vs 2.2 percent in Q4) while government spending (3.4 percent vs 3.6 percent) and fixed investment (3.4 percent vs 10.4 percent) slowed. Meantime, exports (2 percent vs 5 percent in Q4) increased slightly less than imports (2.1 percent vs 5.7 percent). On a quarterly basis, the GDP expanded 0.6 percent, compared to a preliminary reading of 0.5 percent but below 0.8 percent in the fourth quarter of 2018. GDP Annual Growth Rate in Czech Republic averaged 2.52 percent from 1997 until 2019, reaching an all time high of 7.20 percent in the second quarter of 2006 and a record low of -5.60 percent in the second quarter of 2009.
GDP Annual Growth Rate in Czech Republic is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Czech Republic to stand at 2.40 in 12 months time. In the long-term, the Czech Republic GDP Annual Growth Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.