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FX.co ★ Czech Q2 GDP Growth Slows Less Than Estimated

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typeContent_19130:::2022-08-30T09:36:00

Czech Q2 GDP Growth Slows Less Than Estimated

The Czech Republic's economic growth eased less than initially estimated in the three months ended June, latest figures from the statistical office showed Tuesday.

Gross domestic product advanced 3.7 percent year-over-year in the second quarter, slower than the previous quarter's revised 4.6 percent rise.

The second quarter figure was revised up slightly from the 3.6 percent growth reported initially on July 29.

The overall expansion in the second quarter was primarily driven by gross capital formation and final consumption expenditure by the general government, the statistical office said.

Gross fixed capital formation grew 6.2 percent from last year, due to more investments in other buildings and structures, transport equipment, and machinery and equipment. Final government consumption logged an increase of 0.2 percent.

However, external demand had a negative contribution in the second quarter.

On a quarterly basis, GDP expanded 0.5 percent in the June quarter, following a revised 0.6 percent growth in the March quarter. The latest figure was revised up from 0.2 percent.

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