01.12.201705:54:00UTC+00Czech GDP Growth Slows As Estimated

The Czech economy expanded at a slower pace, as initially estimated, in the third quarter, detailed report from the Czech Statistical Office showed Friday.

Gross domestic product grew 0.5 percent sequentially, slower than the 2.5 percent expansion seen in the second quarter. This was the weakest expansion seen so far this year and came in line with the initial estimate.

On a yearly basis, GDP climbed 5 percent, following the second quarter's 4.7 percent expansion. The rate matched the preliminary estimate released on November 14.

Data showed that real household consumption rose 0.9 percent from the previous quarter, while government expenditure remained unchanged. Fixed capital formation also remained unchanged on quarter.

The balance of external trade in goods and services at current prices fell by CZK 1.1 billion from a year ago to CZK 87.2 billion.