ČSÚ: Economy grew 0.5% y/y in Q4 2011

15. 2. 2012

The Czech Republic’s gross domestic product dropped 0.3 q/q in Q3 2011, according to the preliminary estimates by the Czech Statistical Office.

(CIA, Feb 15) The Czech Republic’s gross domestic product dropped 0.3 q/q in Q3 2011, according to the preliminary estimates by the Czech Statistical Office (ČSÚ). The y/y growth totalled 0.5%. The GDP in the full year of 2011 gained 1.7%. According to GE Money Bank’s analyst Petr Gapek, more substantial decline of economic performance was prevented primarily by exports, which exceeded the value of imported goods. Lower domestic demand, and gradually also lower foreign demand for Czech products, slowed down production and attenuated corporate investments.