The Czech economy expanded 2.4 percent year-on-year in the third quarter of 2018, the same as in the previous period and slightly above the preliminary estimate of a 2.3 percent growth. It remains the weakest pace of expansion since the last quarter of 2016. Positive contributions to growth came from household spending (3.1% compared to 3.2% in Q2), gross capital formation (3.3% compared to 2.9%) and public expenditure (5.3% compared to 2.9%). Additionally, both exports (4.5% compared to 3.7%) and imports (6.2% compared to 4.7%) rose faster than in the previous quarter. On a seasonally adjusted quarterly basis, the gross domestic product advanced 0.6 percent, down from a 0.7 percent growth in the prior period and well above the preliminary estimate of 0.4 percent. GDP Annual Growth Rate in Czech Republic averaged 2.52 percent from 1997 until 2018, reaching an all time high of 7.30 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 3.00 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 3.20 in 12 months time. In the long-term, the Czech Republic GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.