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Czech News in English » Business » ČSÚ: ČR's GDP grows faster than EU economy

ČSÚ: ČR’s GDP grows faster than EU economy

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In 2014, the Czech Republic’s GDP growth was faster in the year-on-year comparison than the EU economy dynamics. In the quarterly comparison, the Czech Republic’s economic growth was faster in Q2 and Q3, the Czech Statistical Office (ČSÚ) said in a statement. Cumulated over the entire 2014, the country’s GDP increased 2% whilst the gross value added climbed 2.6%. The rise was mostly driven by the manufacturing industry focusing on the foreign demand (+1.5 pp). Compared to 2013, GVA growth was largely affected by agriculture, forestry and fisheries (+0.2 pp) and also by the construction sector for the first time since 2010 (+0.1 pp). Services contributed with 0.9 pp.


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