GDP grew q/q by 0.1 %, employment by 0.4 %

(CIANEWS) - Price-adjusted and seasonally adjusted gross domestic product (GDP) rose 0.1 % quarter-on-quarter in 1Q 2023. It fell by 0.2 % year-on-year. This follows from the preliminary estimate of the Czech Statistical Office. Director of the National Accounts Department, Vladimír Kermiet, said that the quarter-on-quarter and year-on-year development of GDP was positively influenced primarily by growing foreign demand. On the contrary, the continued decreasing expenditure on household final consumption had a negative effect. Industry contributed the most to year-on-year growth, and in a quarter-on-quarter comparison, the group of trade, transport, accommodation and hospitality sectors also made a contribution. Employment increased by 0.4 % quarter-on-quarter, by 1.4 % year-on-year.



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