The Czech quarterly economic growth was revised higher to 0.7 percent in the second quarter of 2019 from a preliminary estimate of 0.6 percent and compared to the previous period's expansion of 0.6 percent. Household consumption advanced 0.7 percent (vs 1.1 percent in Q1) and government spending increased 1.2 percent (vs 0.6 percent in Q1). In addition, net external demand contributed positively to the GDP growth as exports rose 1.7 percent (vs -1.6 percent in Q1) while imports dropped 0.4 percent (vs -0.2 percent in Q1). Meanwhile, fixed investment continued to contract (-0.6 percent vs -0.3 percent). On the production side, the highest contribution to the growth came from construction (1.9 percent) and information and communication (2.7 percent), while manufacturing shrank 0.3 percent. Year-on-year, the economy expanded 2.7 percent. GDP Growth Rate in Czech Republic averaged 0.59 percent from 1995 until 2019, reaching an all time high of 2.40 percent in the second quarter of 2017 and a record low of -3.50 percent in the first quarter of 2009.
GDP Growth Rate in Czech Republic is expected to be 0.40 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 0.40 in 12 months time. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.