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Financial News: Czech Q1 GDP Growth Improves As Estimated

Czech Q1 GDP Growth Improves As Estimated

06/02/2017 - 03:24:00 (RTTNews)

(RTTNews) - The Czech economy expanded at a faster pace in the first quarter as initially estimated, latest figures from the Czech Statistical Office showed Friday.

Gross domestic product advanced 1.3 percent sequentially in the March quarter, faster than the 0.4 percent rise in the fourth quarter. That was in line with the flash data published on May 16.

In the third quarter of 2016, the rate of expansion was 0.2 percent. The economy has been growing since the second quarter of 2014.

The Czech economic growth in the first quarter was mainly contributed by both external and domestic demand, the agency said.

On the expenditure side, household final consumption grew 0.5 percent over the quarter and expenditure of general government rose by 1.4 percent. Meanwhile, investment activity contracted 0.6 percent.

On an annual basis, GDP expanded at a faster pace of 2.9 percent following fourth quarter's 1.9 percent growth. This confirmed the flash data.

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