Czech economy grew by 2.2% in first quarter, the most in almost three years

According to a revised estimate by statisticians, the Czech economy grew by 2.2% year-on-year in the first quarter of this year. This was the most significant increase in gross domestic product (GDP) since the second quarter of 2022. This follows from data published on Friday by the Czech Statistical Office.

According to statisticians, the annual GDP growth was supported by an increase in final consumption expenditures by 2.3% and an increase in inventories by 13.6 billion crowns. Household final consumption expenditure increased by 2.5% compared to last year, while government final consumption expenditure increased by 1.9%.