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ČSÚ: GDP growth by 2.9% caused by trade and consumption

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The gross domestic product of the Czech Republic increased 2.9% y/y in the first quarter of 2017 primarily thanks to a growth in expenses on the final consumption and above-average results of the external trade. According to information provided by the Czech Statistical Office (ČSÚ), Czech exports totalled CZK 898bn. The export was driven by motor vehicles. The economic growth was mostly contributed to by services and the manufacturing industry. Employment showed record-breaking figures (5.33 million people) in the period. The employment grew 1.5% y/y and 0.6% q/q.


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