The Czech Republic economy expanded 0.2% on quarter in the last three months of 2019, the lowest growth rate since a 0.1% contraction in the first quarter of 2014, preliminary estimates showed. It compares with market expectations of a 0.3% expansion. Household spending was the main driver of growth in the fourth quarter; and services and construction continued to contribute to the expansion while manufacturing has not contributed to growth anymore. On a year-on-year basis, the economy advanced 1.7%, well below 2.5% in the previous period. Considering full 2019, the economy expanded 2.4%.
GDP Growth Rate in Czech Republic averaged 0.58 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. 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. source: Czech Statistical Office
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 0.30 in 12 months time. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.60 percent in 2021, according to our econometric models.