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Financial News: Czech Q2 GDP Growth Revised Up

Czech Q2 GDP Growth Revised Up

08/31/2018 - 08:35:00 (RTTNews)

(RTTNews) - The Czech Republic's economy in the second quarter grew more than estimated initially estimated, latest data from the statistical office showed Friday. Gross domestic product grew 0.7 percent quarter-on-quarter, which was faster than the 0.5 percent initial estimate released on August 14.

The economy expanded 0.5 percent in the first quarter and 0.7 percent in the final quarter of 2017.

On a year-on-year basis, GDP rose 2.4 percent in the second quarter, which was faster than the 2.3 percent reported earlier.

The pace of growth slowed from 4.1 percent in the first quarter and was the weakest since the fourth quarter of 2016, when it was 1.8 percent.

Investment expenditure and household consumption were the main growth factors of the Czech economy, the statistical office said.

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