The Czech Republic’s economy shrank by 0.4 percent quarter-on-quarter in the three months leading to September of 2022, following a 0.5 percent expansion in the previous period, preliminary estimates showed. It was the first decline since Q1 2021 and worse than market forecasts of a 0.1 percent fall, mainly due to lower domestic demand, especially lower household spending. At the same time, foreign demand had a positive effect on the GDP. On an annual basis, GDP rose 1.6 percent, slightly below the market consensus of 1.7 percent and slowing from a 3.7 percent gain in the previous quarter. source: Czech Statistical Office

GDP Growth Rate in Czech Republic averaged 0.54 percent from 1995 until 2022, reaching an all time high of 7.00 percent in the third quarter of 2020 and a record low of -8.80 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 December of 2022.

GDP Growth Rate in Czech Republic is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.80 percent in 2023 and 0.60 percent in 2024, according to our econometric models.

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Czech Republic GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-30 07:00 AM QoQ Final Q2 0.5% 0.9% 0.2% 0.2%
2022-11-01 08:00 AM QoQ Prel Q3 -0.4% 0.5% -0.1% -0.3%
2022-12-02 08:00 AM QoQ Final Q3 0.5% -0.4%


Related Last Previous Unit Reference
GDP Growth Rate -0.40 0.50 percent Sep 2022
GDP Annual Growth Rate 1.60 3.70 percent Sep 2022
GDP Constant Prices 1335.23 1329.23 CZK Billion Jun 2022
Gross National Product 5834972.00 5424464.00 CZK Million Dec 2021
Gross Fixed Capital Formation 362.15 359.81 CZK Billion Jun 2022
GDP from Services 228414.00 227443.00 CZK Million Jun 2022
GDP from Public Administration 169603.00 170269.00 CZK Million Jun 2022
GDP from Manufacturing 315447.00 314628.00 CZK Million Jun 2022
GDP from Construction 51378.00 51964.00 CZK Million Jun 2022
GDP from Agriculture 26291.00 25693.00 CZK Million Jun 2022

Czech Republic GDP Growth Rate
In Czech Republic, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by gross fixed capital formation (25 percent) and government expenditure (19 percent). Exports of goods and services account for 84 percent of GDP while imports account for 77 percent, adding 7 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-0.40 0.50 7.00 -8.80 1995 - 2022 percent Quarterly
SA

News Stream
Czech Economy Contracts First Time Since Q1 2021
The Czech Republic’s economy shrank by 0.4 percent quarter-on-quarter in the three months leading to September of 2022, following a 0.5 percent expansion in the previous period, preliminary estimates showed. It was the first decline since Q1 2021 and worse than market forecasts of a 0.1 percent fall, mainly due to lower domestic demand, especially lower household spending. At the same time, foreign demand had a positive effect on the GDP. On an annual basis, GDP rose 1.6 percent, slightly below the market consensus of 1.7 percent and slowing from a 3.7 percent gain in the previous quarter.
2022-11-01
Czech GDP Revised Higher
The Czech Republic’s economy expanded by 0.5 percent quarter-on-quarter in the three months leading to June of 2022, easing from the downwardly revised 0.6 percent expansion in the previous period but well above preliminary estimates of a 0.2 percent growth. The expansion of the Czech economy was heavily influenced by change in inventories, primarily through inventories of finished products and material enterprises, which supported a 3 percent growth of capital formation. On the other hand, consumption expenditure contracted by 0.2 percent, while net external demand contributed negatively to the Czech economy. On an annual basis, the GDP expanded by 3.7 percent, surpassing preliminary estimates of 3.6 percent and easing from the 4.6 percent growth in the previous quarter.
2022-08-30
Czech Republic GDP Growth Beats Consensus
The Czech Republic's economy expanded by 0.2 percent quarter-over-quarter in the second quarter of 2022, slowing slightly from a 0.9 percent advance in the previous period while analysts expected it to contract 0.4 percent, preliminary estimates showed. On the expenditure side, support came primarily from higher domestic demand. In the production scope, gross value added mainly rose in services, whereas industry and construction stagnated. On an annual basis, GDP rose 3.6 percent, beating the market consensus of 3.1 percent and slowing from a 4.9 percent gain in the previous quarter.
2022-07-29