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Czech Q4 GDP growth revised higher

The Czech quarterly economic growth was revised higher to 0.3% in the fourth quarter of 2019 from a preliminary estimate of 0.2%, the Czech Statistical Office (CZSO) said in a statement on Tuesday.

Growing consumption expenditure of households and expenditure on the gross fixed capital formation were key factors of the economic growth in Q4, while government spending contracted, and net external demand contributed negatively to the gross domestic product, with exports falling and imports rising, the Prague-based statistics agency said.

On a yearly basis, the economy advanced 1.8%, quicker than the flash estimate of 1.7% had indicated. Considering the 2019 full year, GDP growth eased to 2.4% from 2.8% in 2018, CZSO said.