The Czech economy grew at a slightly slower pace than estimated earlier in the fourth quarter of 2014, latest figures from the statistical office showed Tuesday.
Gross domestic product grew a price-and-seasonally adjusted 1.4 percent year-on-year, which was revised from 1.5 percent. In the third quarter, the economy expanded 2.2 percent.
The economy grew for the fifth quarter in a row and the latest pace of expansion was the slowest since the final three months of 2013, when GDP grew 1.1 percent.
Household consumption increased 2 percent and the gross fixed capital formation rose 4.3 percent. Government expenditure grew 4.2 percent.
Exports and imports of goods grew by 7.3 percent each. Services imports jumped 15.9 percent substantially outpacing exports, which was higher by 8.2 percent.
On a quarter-on-quarter basis, GDP increased 0.4 percent in the final three months of 2014, which was unrevised from the previous estimate. The economy grew 0.4 in the third quarter.
The full year 2014 growth was again confirmed at 2 percent. It was the first expansion in three years. Both in 2013 and 2012, the economy contracted 0.7 percent.
The material has been provided by InstaForex Company – www.instaforex.com