Czechia’s economy grew by 1.3% in the third annual quarter

The Czech economy grew by 1.3 percent in the third quarter of 2024, compared with previous years, according to preliminary estimates by the Czech Statistics Office published on its website. Quarter-on-quarter, the gross domestic product increased by 0.3 percent. Analysts were expecting slightly higher growth.

The growth of the economy was mainly a consequence of household consumption expenditures, which, according to the Czech Statistics Office, have been increasing continuously since the beginning of the year. It was supported primarily by the trade, transport, accommodation, hospitality, finance and insurance sectors. By contrast, the decline in the industrial sector continued.