According to revised data, GDP fell by 2.5 percent year on year and by 0.4 percent quarter on quarter in the first quarter of this year.
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Household income and consumption rose sharply in the second quarter.
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Real income of the population increased by 3.9 percent compared to the previous quarter, which is the highest quarter-on-quarter growth in the history of measurement, said Vladimír Kermiet, director of the CZSO National Accounts Department.
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According to the CZSO, the easing of anti-epidemic measures then led to a quarter-on-quarter increase in consumer spending per capita of 4.8 percent.
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Year-on-year, household per capita income was 6.4 percent higher and real household consumption 8.6 percent higher.
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According to statistics, the household savings rate reached 21.3 percent in the quarter under review. “Despite the high growth rate of consumer spending, the rate of household savings has reached high levels,” said Kermiet.
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However, compared to the first three months of the year, household savings were lower by 3.2 percentage points and compared to the second quarter of last year by 2.1 points lower.
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