Czech National Bank: Q1 GDP grew 0.2% quarter-on-quarter and 2.2% year-on-year, with a surge in imports being the main unexpected factor

汇通财经2026/05/29 11:08

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The Czech central bank commented that the economy continued to grow at a steady pace in the first quarter, but overall growth slightly slowed down. GDP grew by 0.2% quarter-on-quarter, lower than the 0.7% in the fourth quarter of last year; the year-on-year growth rate slowed from 2.7% in the fourth quarter to 2.2%. Domestic demand continued to rise, with a slight acceleration in consumption and fixed investment growth.
Imports surged by 8.2% year-on-year, marking the strongest growth rate since 2021, resulting in a negative contribution from foreign trade to GDP growth. Exports grew by 5.8% year-on-year, the highest rate in three years but still below the import growth rate. Further inventory declines reduced overall GDP growth by 0.5 percentage points.
Fixed investment grew by 7.3% year-on-year, the highest increase in four years, and the investment recovery supports further growth prospects. Household spending grew by 3.4% year-on-year, higher than the 3.2% in the fourth quarter. First-quarter results were weaker than the central bank’s forecast, with the surge in imports being the main unexpected factor. The central bank initially expected economic growth of 2.5% for the year, but the weak first-quarter results and increased risk of high energy prices have raised the likelihood that full-year GDP growth will fall below expectations.

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Czech National Bank: Q1 GDP grew 0.2% quarter-on-quarter and 2.2% year-on-year, with a surge in imports being the main unexpected factor

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