Statisticians: Czech economy grew by 4.8 percent in first quarter of 2022

The Czech economy grew year-on-year by 4.8 percent during the first quarter of 2022, according to an estimate released by the Czech Statistics Agency on Tuesday. Compared to the previous quarter, GDP grew by 0.9 percent.

The estimate shows that the Czech economy grew slightly more than had originally been forecast by economists as the previous agency forecast lay at 4.6 percent growth in the first quarter.

Vladimír Kermiet from the Czech Statistics Agency said that the first quarter of the previous year had been negatively affected by the pandemic and by a lack of industrial components. Meanwhile, in this year, statisticians can see the effect of growing prices and the limiting of household expenditure especially on long-term consumption goods.