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Indicator Analysis: Domestic demand likely bottomed out at the end of last year

01/03/2024 16:43

According to the revised GDP estimate, the Czech economy grew by 0.2% qoq in 4Q23. On a year-on-year basis it contracted by 0.2%. This confirmed the advance estimate, while we had expected a slight upward revision due to the strong monthly data for December. However, growth was significantly higher in gross value added (GVA), at 0.6% qoq, than in GDP. According to the national accounts, the difference between the two indicators was related to a significant qoq decline in product subsidies. This was likely due to lower subsidies for energy consumption, as energy prices fell below government caps.

Autor: Martin Gürtler
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