The Czech Republic’s economy shrank by 0.3% on quarter in the three months leading to December of 2022, following a 0.2% decline in the previous period and compared with market estimates of a 0.6% contraction, preliminary estimates showed. Lower final consumption expenditure of households due to soaring inflation and tighter financing conditions pushed the country into a technical recession for the first time since 2020. On a yearly basis, the GDP advanced by 0.4%, down from a 1.5% rise in the previous period but above market forecasts of a meager 0.2% growth. Considering the full year of 2022, the economy advanced by 2.5% over a year ago. source: Czech Statistical Office
GDP Growth Rate in Czech Republic averaged 0.54 percent from 1995 until 2022, reaching an all time high of 7.00 percent in the third quarter of 2020 and a record low of -8.80 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 February of 2023.
GDP Growth Rate in Czech Republic is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.60 percent in 2024 and 0.50 percent in 2025, according to our econometric models.