GDP fell 0.6 % in 2Q

(CIANEWS) - In 2Q 2023 gross domestic product (GDP) increased by 0.1 % quarter-on-quarter and decreased by 0.6 % year-on-year. Preliminary estimates of the Czech Statistical Office (ČSÚ) show this. Director of the ČSÚ National Accounts Department, Vladimír Kermiet, added that the year-on-year GDP development was negatively affected by lower household final consumption expenditures and lower gross capital formation. Foreign demand had a positive effect. Industry and information and communication activities made the most positive contribution to the development of gross value added (GVA). The construction industry and the group of trade, transport, accommodation and hospitality sectors had a negative impact.



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