The Czech Republic's economy grew at a slower pace in the first quarter, the latest official data confirmed on Friday.
Gross domestic product rose 0.2% compared to the previous quarter, though slower than the 0.7% expansion in the fourth quarter. That was in line with the flash data published on April 30. The economy has been expanding since the fourth quarter of 2023.
The expenditure breakdown showed that household consumption rose 0.6%, while general government consumption decreased by 0.3%.
Gross fixed capital formation, or investments, was 2% higher.
Net foreign demand was not favourable as exports grew 3.8% amid a 5.8% increase in imports.
On a yearly basis, GDP growth moderated to 2.2% in the first quarter from 2.7% in the previous quarter. In the flash report, the rate of expansion was 2.1%.
The annual growth was mainly supported by higher final consumption expenditure of households and by gross fixed capital formation.
