The Czech Republic’s economy continued its expansion for the third consecutive quarter, as confirmed by the latest data from the national statistical office released on Friday.Gross domestic product (GDP) increased by 0.3% quarter-on-quarter, following a revised growth of 0.4% in the first quarter. This aligns with the preliminary estimates published on July 30.The quarterly GDP growth was primarily driven by increases in final consumption expenditures and investments.A detailed examination of expenditures reveals that final consumption expenditure rose by 0.6% during the quarter, while gross fixed capital formation surged by 1.9%.Both exports and imports grew, with exports up by 0.6% and imports by 0.7%. However, changes in inventories negatively impacted the GDP.On an annual basis, GDP climbed by 0.6% in the second quarter, compared to a 0.4% rise in the previous quarter. The latest annual growth rate was revised upward from an initial estimate of 0.4%.The material has been provided by InstaForex Company – www.instaforex.com
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