GDP decreased by 8.4%, q-o-q
Publication Date: 31. 07. 2020
Product Code: 050055-20
In the Q2 2020, the Czech economy was at a historical low. The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] decreased in the Q2 2020, according to the preliminary estimate, by 8.4% compared to the Q1 2020 and compared to the Q2 2019 it decreased by 10.7%.
The negative year-on-year GDP development was caused mainly by a marked decrease in external demand and by lower household consumption as well as investment activity. The gross value added (GVA) decreased in almost all economic activities of the national economy. A markedly negative influence on the GVA decrease came from industry and a group of economic activities of trade, transportation, and accommodation and food service activities.
Employment[2] decreased in the Q2 2020, compared to the previous quarter, by 1.6%; when compared to the corresponding quarter of the previous year, it decreased by 2.1%.
Responsible head at the CZSO: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247,
Contact person: Jan Benedikt, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750, e‑mail: jan.benedikt@csu.gov.cz
Used data sources updated as at: 28 July 2020
Related CZSO web page: https://csu.gov.cz/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next News Release will be published on: 1 September 2020
(GDP resources and uses for the Q2 2020)
[1] All data presented in this News Release are adjusted for seasonal and calendar effects.
[2] In terms of national accounts.
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| Zdroj dat | csu.gov.cz |
|---|---|
| Originál | csu.gov.cz/rychle-informace/gdp-preliminary-estimate-2nd-quarter-of-2020 |
