“On the demand side, the main reasons for the quarter-on-quarter growth in GDP in the 3rd quarter were an increase in household final consumption expenditure and changes in stock levels (difference in the amount of goods in households goods, editor’s note),” said Vladimír. Kermiet, director of the National Accounts Department of the CZSO. Total fixed capital formation and foreign demand were negatively affected.
Expenditure on final consumption increased by 2.5 per cent year on year, while expenditure on final consumption by households increased by 2.2 per cent. Expenditure on final consumption by government institutions rose by three percent.
Total fixed capital formation (investment in machinery, land, buildings and other fixed assets, editor’s note) fell 0.8 percent compared to the third quarter last year. Investments fell year-on-year in housing and in information and communication technology and other machinery and equipment. On the other hand, investments increased mainly in buildings and other buildings and means of transport.
The foreign trade balance in goods and services reached CZK 121.8 billion in current prices, which was CZK 29.9 billion more than in the same period of the previous year. In a year-on-year comparison, exports increased by four percent, imports increased by 3.4 percent.
The Czech economy will grow by only one percent this year, according to the IMF
Economic
2024-11-29 08:33:00
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