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CZECHIA: Advance Q2 GDP Data Print Below Expected Levels

CZECHIA

The CZSO releases advance Q2 GDP data, which comes in below expectations. 

  • GDP +0.4% Y/Y (BBG est. +0.6%, CNB est. +0.7%)
  • GDP +0.3% Q/Q (BBG est. +0.5%)

The CZSO says that "the quarter-on-quarter GDP growth was influenced by an increasing domestic demand, which was especially supported by higher final consumption expenditure. External demand had a negative influence."

Meanwhile, "the year-on-year growth of the economy by 0.4% was mainly supported by final consumption expenditure of households. Final consumption expenditure of general government was also increasing and external demand had a positive influence, too. On the other hand, a change in inventories contributed negatively."

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