GDP Preliminary Estimate - 2. quarter of 2022

According to a preliminary estimate, the gross domestic product increased by 0.2%, quarter-on-quarter, in the Q2 2022. In the year-on-year comparison, it increased by 3.6%.

The gross domestic product (GDP) adjusted for price effects and seasonally adjusted[1] increased in the Q2 2022, according to the preliminary estimate, by 0.2% compared to the previous quarter. When compared to the corresponding quarter of the previous year, it increased by 3.6%.

The year-on-year increase of the GDP was positively contributed to by final consumption expenditure and gross capital formation. However, a negative influence of external demand persisted.

The following contributed the most to the year-on-year growth of the gross value added: a group of economic activities of trade, transportation, accommodation and food service activities. Construction and most of economic activities of services were successful, too.

“On the expenditure side, only domestic demand contributed to the quarter-on-quarter growth of the GDP. The moderate growth of the gross value added was supported by a group of economic activities of services, whereas industry and construction were stagnating,” Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), said.

Employment[2] increased by 1.4%, quarter-on-quarter; in the year-on-year comparison, it increased by 2.3%.

Responsible head at the CZSO: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247, e-mail: vladimir.kermiet@czso.cz
Contact person: Jan Benedikt, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750, e‑mail: jan.benedikt@czso.cz
Used data sources updated as at: 26 July 2022
Related CZSO web page: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next News Release will be published on: 30 August 2022
(GDP resources and uses for the Q2 2022)