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CZECHIA: Preliminary Report Shows That Economy Expanded By 1% Y/Y In 2024

CZECHIA
EM BulletBulletEmerging Market NewsCentral and Eastern EuropeCzechia

Czechia's economy grew by 1.6% Y/Y and by 0.5% Q/Q in 4Q24, according to a flash estimate released by the CZSO, with both figures falling in line with expectations. This means that the economy expanded by 1.0% Y/Y in the whole 2024.

  • "The all year round growth was supported by higher final consumption expenditure of households and general government. On the other hand, mainly gross capital formation had a negative effect."
  • “In the last quarter of 2024, the GDP increased by 0.5%, quarter-on-quarter. The growth was supported by the domestic demand, especially higher final consumption expenditure of households. External demand was decreasing."
  • "In the year-on-year comparison, the GDP increased by 1.6% in the Q4 2024. Mainly final consumption expenditure of households and gross capital formation contributed to the growth. The international trade balance had a negative effect."
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Czechia's economy grew by 1.6% Y/Y and by 0.5% Q/Q in 4Q24, according to a flash estimate released by the CZSO, with both figures falling in line with expectations. This means that the economy expanded by 1.0% Y/Y in the whole 2024.

  • "The all year round growth was supported by higher final consumption expenditure of households and general government. On the other hand, mainly gross capital formation had a negative effect."
  • “In the last quarter of 2024, the GDP increased by 0.5%, quarter-on-quarter. The growth was supported by the domestic demand, especially higher final consumption expenditure of households. External demand was decreasing."
  • "In the year-on-year comparison, the GDP increased by 1.6% in the Q4 2024. Mainly final consumption expenditure of households and gross capital formation contributed to the growth. The international trade balance had a negative effect."