The Czech economy advanced by 6.2 percent on quarter in the three months to September 2020, compared with a record contraction of 8.7 percent in the previous period and beating market expectations of a 5 percent growth, a preliminary estimate showed. It was the strongest expansion on record, following the unprecedented economic blow caused by the Covid-19 pandemic during the second quarter. Year-on-year, the GDP shrank 5.8 percent, after plunging 10.8 percent in the previous quarter and compared with market consensus of a 6.9 percent decline, dragged down by a decrease in capital formation and by lower household consumption. source: Czech Statistical Office
GDP Growth Rate in Czech Republic averaged 0.52 percent from 1995 until 2020, reaching an all time high of 6.20 percent in the third quarter of 2020 and a record low of -8.70 percent in the second quarter of 2020. This page provides the latest reported value for - Czech Republic GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Czech Republic GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
GDP Growth Rate in Czech Republic is expected to be -3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Czech Republic to stand at 1.10 in 12 months time. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.90 percent in 2021 and 0.70 percent in 2022, according to our econometric models.