Eurozone Boom Boosts Czech Economy

Prague Morning

Prague Morning

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The Czech economy grew slightly more slowly than expected in the last three months of 2017 but still managed to pump out one of the fastest rates of growth in the EU, according to preliminary figures published by the Czech Statistical Office on Friday. 

GDP has gradually accelerated since the start of 2017 when it stood at 3.0 percent. Overall annual economic growth reached 4.5 percent last year, which was three percentage points higher than in 2016.

The CSO said both external demand and healthy domestic consumption growth contributed to the economic expansion in recent months. Despite the impressive Czech performance, however, the fourth quarter figure was slightly weaker than the 0.6 percent quarterly growth predicted by economists.

Author: red

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