The Czech economy expanded 2.5 percent on year in the first quarter of 2019, easing from a downwardly revised 2.6 percent growth in the previous period and above market forecasts of 2.4 percent, a preliminary estimate showed. On a seasonally adjusted quarterly basis, the GDP advanced 0.5 percent, slowing from a downwardly revised 0.8 percent expansion in the prior quarter. Growth was mainly driven by fixed investment, foreign demand and household consumption. GDP Annual Growth Rate in Czech Republic averaged 2.52 percent from 1997 until 2019, reaching an all time high of 7.20 percent in the second quarter of 2006 and a record low of -5.60 percent in the second quarter of 2009.
GDP Annual Growth Rate in Czech Republic is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Czech Republic to stand at 2.40 in 12 months time. In the long-term, the Czech Republic GDP Annual Growth Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.