Czech economy up by 4.6 percent year-on-year in Q1

The Czech economy grew by 4.6 percent year-on-year in the first quarter of this year, according to preliminary estimates released by the Czech Statistical Office on Friday. Compared to the previous quarter, the Gross Domestic Product increased by 0.7 percent.

In both cases, the results exceed the expectations of analysts, who say the year-on-year increase of the GDP was mainly driven by increased household spending and gross fixed capital formation.