The Czech Republic gross domestic product advanced 1.0 percent on quarter in the three months ending June of 2021, rebounding from an upwardly revised 0.4 percent decline in the previous period and compared to preliminary estimates of a 0.6 percent expansion. The key drivers of economic growth in the second quarter were household spending (6.5 percent), particularly consumption of durable goods and services; and gross fixed capital formation (4.2 percent), mainly investment in houses, vehicles, and other machinery and equipment. Meanwhile, both government spending (-0.2 percent) and net foreign demand weighed down on growth, with exports (0.6 percent) rising slower than imports (4.9 percent). On a yearly basis, the economy jumped 8.2 percent, following an upwardly revised 2.5 percent fall and faster than early estimates of 7.8 percent. 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 October of 2021.
GDP Growth Rate in Czech Republic is expected to be 2.60 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 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.