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Financial News: Czech Q2 Economic Growth Slows Less Than Forecast

Czech Q2 Economic Growth Slows Less Than Forecast

07/29/2022 - 05:34:00 (RTTNews)

(RTTNews) - The Czech Republic's economic growth eased less-than-expected in the three months ended June, after improving in the previous quarter, preliminary figures from the statistical office showed Friday.

Gross domestic product advanced 3.6 percent year-over-year in the second quarter, slower than the previous quarter's revised 4.9 percent rise.

Economists had forecast the growth to ease to 3.1 percent.

Expenditure on final consumption and gross capital formation contributed positively to year-on-year GDP growth, while the negative influence of foreign demand continued to persist, the statistical office said.

On a quarterly basis, GDP expanded 0.2 percent in the June quarter, following a 0.9 percent growth in the March quarter. In contrast, it was forecast to fall by 0.4 percent.

On the expenditure side, only domestic demand contributed positively to the quarterly GDP growth in the June quarter.

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