Czech Q2 GDP Growth Confirmed At 0.3%

(RTTNews) - The Czech Republic's economy grew for the third straight quarter as initially estimated in the second quarter, the latest data from the statistical office showed on Friday.

Gross domestic product advanced 0.3 percent sequentially, following a revised 0.4 percent rise in the first quarter. That was in line with the flash data published on July 30.

The quarterly development of GDP was positively influenced by a rise in final consumption expenditures and investments.

The expenditure breakdown showed that final consumption expenditure grew 0.6 percent over the quarter, and gross fixed capital formation advanced by 1.9 percent.

Both exports and imports increase by 0.6 percent and 0.7 percent, respectively. Meanwhile, changes in inventories had a negative influence.

On a yearly basis, GDP rose 0.6 percent in the June quarter versus a 0.4 percent rise in the previous quarter. The latest rate of growth was upwardly revised from 0.4 percent.