Czech GDP Growth Revised Higher In Q3

(RTTNews) - The Czech Republic's economic growth improved more than initially estimated in the third quarter, the latest data from the statistical office showed on Friday.

Gross domestic product advanced 0.5 percent sequentially, following a 0.2 percent rise in the second quarter. In the previous estimate, the rate of growth was 0.4 percent. The economy has been expanding since the fourth quarter of 2023.

On the expenditure side, final consumption expenditure by households grew 0.7 percent over the quarter, while government consumption showed a flat change.

Gross fixed capital formation decreased 1.2 percent due to lower investments in dwellings, in ICT, and in other machinery and equipment. Both exports and imports grew by 1.9 percent and 3.2 percent, respectively.

On a yearly basis, GDP growth accelerated to 1.4 percent in the third quarter from 0.5 percent in the previous quarter. The flash growth rate was 1.3 percent.

The expenditure of households grew 3.3 percent compared to last year, and their income increased by 2.5 percent, the agency said.