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Czech economy expands strongly in 2017

The Czech economic growth expanded strongly in 2017. The economy saw the best growth since 2015, showed the preliminary flash estimate. The GDP expanded 4.5 percent in the whole of 2017, suggesting that the economy grew 0.5 percent quarter-on-quarter, and 5.1 percent year-on-year in Q4 2017.

According to the Czech statistical Office, all demand components added much to its growth, particularly the external demand and consumption expenditure of households. Most of economic activities of the national economy were successful, in particular industry, but also economic activities of services.

The economic growth outcome in the fourth quarter of 2017 was slightly below the Czech National Bank’s projection of 5.4 percent; however, the deviation is marginal and therefore the central bank might be satisfied with its view on the Czech economy, noted KBC Market Research in a report.

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