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.


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Czech Republic GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.40 2.40 -3.50 1995 - 2019 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-08-30 07:00 AM QoQ Final Q2 0.7% 0.6% 0.6% 0.6%
2019-11-14 08:00 AM QoQ Prel Q3 0.3% 0.7% 0.4% 0.4%
2019-11-29 08:00 AM QoQ Final Q3 0.4% 0.6% 0.3% 0.3%
2020-02-14 08:00 AM QoQ Prel Q4 0.2% 0.4% 0.3% 0.3%
2020-03-03 08:00 AM QoQ Final Q4 0.4% 0.2% 0.2%
2020-05-15 07:00 AM QoQ Prel Q1 0.4%
2020-06-02 07:00 AM QoQ Final Q1 0.4%
2020-07-31 07:00 AM QoQ Prel Q2 0.4%


News Stream
Czech GDP Growth Lowest in Near 6 Years
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%.
2020-02-14
Czech Q3 GDP Growth Rate Revised Up to 0.4%
Czech Republic’s GDP expanded 0.4 percent on quarter in the three months to September 2019, easing from a 0.6 percent advance in the previous period and above preliminary estimates of 0.3 percent. It was the weakest pace of expansion since Q2 2016. Household consumption showed no growth in Q3 (vs 0.8 percent in Q2) and government expenditure slowed (1.0 percent vs 1.3 percent). In addition, gross fixed capital formation dropped further (-0.3 percent vs -0.2 percent) and net foreign demand contributed negatively to growth, as exports went down 0.4 percent (vs 2.0 percent) while imports increased 0.4 percent (vs a flat reading in Q2). Year-on-year, the GDP grew 2.5 percent, less than a 2.7 percent advance in Q2 and in line with preliminary estimates.
2019-11-29
Czech Q3 GDP Growth Weakest in Nearly 4 Years
The Czech economy grew by 0.3 percent quarter-on-quarter in the three months to September 2019, easing from a 0.7 percent expansion in the previous period and missing market consensus of 0.4 percent, a preliminary estimate showed. It was the weakest pace of growth since the first quarter of 2016. Both the domestic and external demand contributed to the expansion. On the production side, growth was mainly supported by trade, transportation & storage, accommodation & food service activities, and information & communication. Construction continued to rise, while industry slowed. On a yearly basis, the GDP advanced by 2.5 percent, also below market forecasts of 2.7 percent.
2019-11-14
Czech Q2 GDP Growth Revised Higher
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.
2019-08-30

Czech Republic GDP Growth Rate
In Czech Republic, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by gross fixed capital formation (25 percent) and government expenditure (19 percent). Exports of goods and services account for 84 percent of GDP while imports account for 77 percent, adding 7 percent of total GDP.