Financial News: Czech GDP Grows 0.5% In Q1

Czech GDP Grows 0.5% In Q1

04/30/2024 - 08:27:00 (RTTNews)

(RTTNews) - The Czech Republic's economy expanded more-than-expected in the first quarter, flash estimates from the statistical office showed on Tuesday.

Gross domestic product advanced 0.5 percent sequentially, following a 0.4 percent rebound in the fourth quarter. Meanwhile, economists had expected a stable increase of 0.4 percent.

The quarterly development of GDP was positively influenced by increasing domestic demand, especially by higher final consumption expenditures of households and gross capital formation, the agency said.

On a yearly basis, GDP rose 0.4 percent in the March quarter versus a 0.2 percent rise in the previous quarter. The growth was attributed to final consumption expenditures and an increasing external trade balance.

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