The Czech Republic's economy displayed consistent growth in the fourth quarter, aligning with market expectations, as reported by the statistical office on Friday's preliminary data.
The country's gross domestic product (GDP) rose by 0.5 percent on a quarter-to-quarter basis, maintaining the same growth rate as observed in the preceding quarter. Notably, the economy has been on an upward trajectory since the end of 2023.
In the final quarter of 2024, the overall economic expansion was primarily driven by robust domestic demand, highlighted by an increase in household final consumption expenditures. Conversely, external demand exerted a negative influence on the economy.
On an annual scale, GDP growth accelerated to 1.6 percent in the fourth quarter, up from 1.4 percent in the previous quarter, in alignment with market forecasts.
Throughout 2024, the GDP experienced a 1.0 percent increase compared to the previous year, 2023, chiefly propelled by heightened final consumption expenditures from both households and the government.
