Czechia’s quarterly GDP rise falls short of market expectations

ISTANBUL

Czechia’s seasonally adjusted gross domestic product (GDP) rose 0.3% in the second quarter for the third consecutive time, up from a 0.2% growth in the previous quarter, but below the market expectations of 0.4%, according to a preliminary estimate by the Czech Statistical Office on Tuesday.

The quarterly increase in the GDP was due to increasing domestic demand, data showed.

The Czech economy grew 0.4% in the second quarter compared to last year’s same quarter.

The year-on-year growth was mainly due to increased final consumption expenditure of households and the government, while external demand showed a positive influence, said Vladimir Kermiet, the director of the National Accounts Department of the Czech Statistical Office (CZSO).

At the same time, employment rose 0.5% on a quarterly basis, and 0.2% on an annual basis.