Czech Republic’s gross domestic product, adjusted for pricing and seasonal factors, increased by 0.5% q/q and 5.0% y/y in Q3 2017. This stems from the preliminary estimation from the Czech Statistical Office (ČSÚ).
The year-on-year growth benefited equally from all main expenditure items of GDP. Higher domestic demand was driven by stably growing household consumption and continued increase in investment expenditures. Most sectors of the national economy, primarily industry, as well as services, fared well.
Employment continued to go up on the labour market. Employment in Q3 2017 was 0.8% higher than in the previous quarter-year and 2.0% higher than in Q3 2016.