FX.co ★ Czech Republic Q4 GDP Growth Confirmed at Near 3-Year High

The Czech Republic's GDP increased by 0.7% quarter-on-quarter in the fourth quarter of 2024, consistent with the second estimates, and following a 0.6% rise in the previous quarter. This represents the fastest growth in the Czech economy since the first quarter of 2022, primarily driven by an increase in household spending, which rose by 1.5% compared to 0.9% in the previous quarter. Similarly, government expenditure maintained a growth rate of 0.7%, unchanged from the prior quarter. In contrast, the gross capital formation decreased by 1.1%, following a growth of 3.5% earlier. Regarding net external demand, exports declined by 1.6%, compared to a previous 2% drop, while imports decreased by 1.8%, following a 3.6% decline. Annually, the economy expanded by 1.8% in the fourth quarter of 2024, as per the second estimate, marking the fastest year-on-year growth since the third quarter of 2022, and surpassing the 1.4% growth observed in the preceding quarter.