Czech Economy Expands Less Than Initial Estimate
PRAG (dpa-AFX) - The Czech economy expanded less than estimated in the third quarter, the Czech Statistical Office reported Friday.
Gross domestic product grew 0.2 percent sequentially instead of 0.3 percent estimated on November 15. In the second quarter, the economy had expanded 0.9 percent.
Household consumption was the key factor of growth. Investment also contributed to sequential growth. However, foreign demand negatively influenced the growth.
Household spending grew 0.9 percent, while government spending dropped 0.4 percent. Fixed capital formation advanced 2.5 percent.
On a yearly basis, GDP advanced 1.9 percent as estimated in the third quarter.
Copyright RTT News/dpa-AFX