Czech GDP Growth Stable At 0.5%

(RTTNews) - The Czech Republic's economy grew at a stable pace in the fourth quarter, as expected, the flash data from the statistical office showed on Friday.

Gross domestic product advanced 0.5 percent sequentially, the same as in the previous quarter. The economy has been expanding since the fourth quarter of 2023.

The overall growth in the final quarter of 2024 was supported by the domestic demand, especially higher final consumption expenditure of households. Meanwhile, external demand had a negative impact.

On a yearly basis, GDP growth accelerated to 1.6 percent in the fourth quarter from 1.4 percent in the previous quarter. That was also in line with expectations.

During the year 2024, GDP grew 1.0 percent compared to 2023, led by higher final consumption expenditure of households and general government.