Czech Q3 GDP rises by 0.2 pct q/q, supported by household consumption

Czech economy growth continued to grow in Q3 2016 on rapidly growing household consumption supported by investment growth which was the main growth factors. Growth in Q3 was still slower pace than in the previous quarters.

Czech Republic gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] increased by 0.2 percent, quarter-on-quarter (quarter‑over-quarter). In the year-on-year comparison (year-on-year), the GDP increased by 1.9 percent.

Construction for the first time contributed to growth of the economy in Q3.  The GVA in construction increased by 0.6 percent q/q. Positive contribution was seen from manufacturing and most of the economic activities of services. Manufacturing was 0.9 percent up, q/q, and 3.9 percent up, y/y.

Final consumption expenditure of households reflected positive expectations in the economy when growing by 0.9 percent, q/q, and by 2.8 percent, y/y. Final consumption expenditure of general government decreased by 0.4 percent, q/q, and in the y/y comparison it was by 1.5 percent higher.

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