Czech Republic GDP expands less than expected in Q3
The Czech Republic's economy was seen expanding by 1.4% quarter-on-quarter in the three months ending September, following a 1% increase in the previous period and missed market expectations of a 1.8% rise, preliminary estimates from the Prague-based Central Statistics Office (CZSO) showed.
On an annual basis, the economy expanded 2.8%, compared to the market consensus of 3.2%.
The economy was exclusively supported by domestic demand, in particular final consumption of households, gross capital formation, and government spending, while exports likely declined.
On the production scope, growth was mostly driven by the trade, transportation, and the accommodation and food service sectors.
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