Czech economy grew by 1 percent in 2024

The Czech economy grew by 1 percent in 2024, according to data released by the Czech Statistics Office on Friday.  In the fourth quarter of last year, gross domestic product grew by 1.8 percent year-on-year and 0.7 percent quarter-on-quarter. Both figures are 0.2 percentage point more favourable than the January estimate. Last year's GDP growth was mainly driven by higher consumer and  government expenditures. In contrast, expenditure on gross capital formation and external demand had a negative impact.