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Czech economic growth slows to 2.4%

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The Czech Statistical Office (CSU) reported on Tuesday that year-on-year economic growth for the second quarter of this year slowed to 2.4% from 4.1% in the first quarter. Economists attribute this to the tight local labour market, broader European trends, and even the unusual weather over the summer.

The total amount of cash and other incomes for households grew 1.4% over the previous quarter, and 2.7% over the year. The real per capita consumption and real savings rate also increased over the previous quarter by 1.1% and 0.4% respectively.

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