GDP preliminary estimate - 2nd quarter of 2017

GDP increased by 4.5%, year-on-year

16.08.2017
Code: 050055-17
 

According to the preliminary estimate, the gross domestic product (GDP) was 2.3% up in the Q2 2017, quarter-on-quarter (q-o-q), and 4.5% up, year-on-year (y-o-y).


The Czech economy was successful in the second quarter of 2017. According to the preliminary estimate, the gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] increased in the Q2 2017 by 2.3%, q-o-q, and compared to the Q2 2016 it increased by 4.5%. The second quarter of 2017 had 4 working days less both from the year‑on-year and quarter-on-quarter point of view.

According to the preliminary estimate, especially the domestic demand contributed to the fast growth; it was supported by an increasing consumption of households and investment activity of enterprises. Performance of most of economic industries of the national economy was growing, i.e. not only that of manufacturing, but also performance of majority of economic activities (industries) of services.

On the labour market, the increase of the Czech economy performance continued to be accompanied by increasing employment. In the Q2 2017, employment [2] was by 0.5% higher, q-o-q, and compared to the corresponding quarter of the previous year it increased by 1.3%.

 

Responsible head at the CZSO: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247, e-mail: vladimir.kermiet@czso.cz
Contact person: Tereza Košťáková, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750, e‑mail: tereza.kostakova@czso.cz
Used data sources updated as at: 10 August 2017
Related CZSO web page: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next News Release will be published on: 1 September 2017
(GDP resources and uses for the Q2 2017)


[1] All data presented in this News Release are adjusted for seasonal, and calendar effects.

[2] In terms of national accounts.

 

  •      apoh081617.docx
Archive:
Show all Hide

Published: 16.08.2017
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz