According to preliminary estimates, in the third quarter, the Gross Domestic Product (GDP) decreased by 0.3% on a quarterly basis and 0.6% on an annual basis.<\/p>\n\n\n\n
It is estimated that in the third quarter, the seasonally adjusted and price-adjusted Gross Domestic Product (GDP) was 0.3% lower than in the previous quarter and 0.6% lower than in the same quarter of the previous year.<\/p>\n\n\n\n
The quarterly decline in GDP was primarily influenced by foreign demand, while domestic demand remained stagnant.<\/p>\n\n\n\n
“The annual decline in GDP was negatively affected by reduced household final consumption expenditure and decreased gross capital formation. Foreign demand had a positive impact,” stated Vladim\u00edr Kermiet, Director of the National Accounts Department at the CZSO.<\/p>\n\n\n\n
In the quarter-on-quarter comparison, most sectors of the national economy saw a decrease in Gross Value Added (GVA). The industry and the combined sectors of trade, transportation, accommodation, and hospitality had a negative impact.<\/p>\n\n\n\n
These same sectors were the most affected by the annual decrease in VAT. In contrast, information and communication activities, as well as professional, scientific, technical, and administrative activities, thrived.<\/p>\n\n\n\n
Employment decreased by 0.7% on a quarterly basis and increased by 0.5% compared to the same quarter of the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"
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