Czech Republic GDP growth revised higher in Q4

Figures

The Czech Republic economy expanded 0.6% quarter-on-quarter in the fourth quarter of 2020, slightly higher than initial estimates of a 0.3% rise, figures from the Prague-based Statistical Office (CZSO) showed on Tuesday.

Government spending increased 5.5%, exports surged 6.6% and imports rose 6.6%.

In contrast, household spending fell 4.2% and gross fixed capital formation edged down 0.3%. Year-on-year, the gross domestic product (GDP) shrank 4.7%, compared to a preliminary estimate of a 5% decline and following a downwardly revised 4.9% slump in the previous period. In 2020, the GDP contracted by 5.6%, the most on record amid the coronavirus epidemic. 

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