Financial News: Czech Economy Grows 0.3% In Q3

Czech Economy Grows 0.3% In Q3

10/30/2024 - 04:36:00 (RTTNews)

(RTTNews) - The Czech Republic's economy grew for the fourth straight quarter in the three months ending in September, though at a slightly slower pace, flash estimates from the statistical office showed on Wednesday.

Gross domestic product advanced 0.3 percent sequentially, following a 0.4 percent rise in the second quarter. That was just below the expected growth of 0.4 percent.

The overall growth in the third quarter was mainly driven by rising domestic demand, while external demand stagnated. On the production side, manufacturing and construction were the most positive segments.

On a yearly basis, GDP growth accelerated to 1.3 percent in the third quarter from 0.6 percent in the previous quarter. The expected increase was 1.4 percent.

The yearly growth was largely on the back of a continued rise in household consumption. Final consumption expenditure of the general government and external demand had a positive contribution.

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