World Economy

Czech Economy Grows

Czech Economy Grows Czech Economy Grows

A refined estimate Friday confirmed last year’s growth of the Czech economy at 4.3% which was already in the preliminary estimate from February and raised GDP growth figure for the last quarter of 2015 from 3.9 to 4%, data from the Czech Statistical Office shows, NewsNow reported. The quarter-on-quarter development estimate improved as well. The statisticians said in February that Czech economy contracted by 0.1% at the end of last year, but the refined estimate shows that GDP remained unchanged. The full-year growth was the highest in the last eight years. It was pulled by rising household consumption and higher investment activity. Household consumption increased by 2.9% and investment activity by some 0.1%. “Both of these most important domestic demand components were growing the fastest since 2007. Therefore, it was rather the domestic demand than external trade on which the economic growth was based,” the CSU said.