The Czech economy expanded at a slower-than-expected pace in the fourth quarter, preliminary data from the Czech Statistical Office showed Friday, Business Insider reported. Gross domestic product advanced 0.5% sequentially in the December quarter, the same rate of increase as in the September quarter. That was below the 0.7% growth economists had forecast. On a yearly basis, GDP grew 5.1%, just above the 5% rise in the preceding quarter. The growth was expected to improve to 5.3%. During the whole year 2017, the Czech economy expanded dynamically by 4.5%. All demand components contributed much to its growth, especially external demand and consumption expenditure of households. Czech is one of several central and eastern European economies that have benefited from the boom in the eurozone over the last year. Last month Poland reported its strongest annual growth rate for six years, while Romania’s gross domestic product increased by 7% in 2017. The Czech Statistical Office said both external demand and healthy domestic consumption growth contributed to the economic expansion in recent months.
