The Czech Republic economy retreated 0.3% on quarter in the first three months of 2021, reversing from a 0.3 percent gain in the previous period and compared to market expectations of a 1.0 percent contraction, preliminary estimates showed. On a yearly basis, the economy shrank 2.1 percent, also better than the market consensus of a 2.6 percent drop. The year-on-year decline was mainly due to a continuously declining household consumption. In contrast, government spending and foreign demand contributed positively to total output. source: Czech Statistical Office
GDP Growth Rate in Czech Republic averaged 0.53 percent from 1995 until 2021, reaching an all time high of 7.10 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 May of 2021.
GDP Growth Rate in Czech Republic is expected to be 2.10 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 1.00 in 12 months time. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.