Quarterly GDP flash estimate - 3 quarter
GDP increased both in Q2 and Q3, q-o-q
Publication Date: 14. 11. 2009
Product Code: r-5001-09
In Q3 2009, GDP adjusted for price, seasonal and working days effects fell by 4.1% in comparison to Q3 2008. By contrast, compared to Q2 2009, GDP increased by 0.8%. Total employment adjusted for seasonal effects dropped by 2.3%, y-o-y, and by 0.3%, q-o-q.
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In Q3, according to a preliminary estimate, real GDP (adjusted for seasonal and working day effects) fell by 4.1% compared to Q3 2008. However, compared to Q2, GDP increased by 0.8%. The performance of economy measured by the size of GDP now corresponds to the level reached in Q1 2007.
The y-o-y development of demand components was in Q3 similar to the situation in the first half-year. While the final consumption expenditure continued to grow moderately, the capital formation was significantly lower compared to the corresponding period of the last year. Slightly negative was also the contribution of the external trade.
While the development of GDP was stabilized in the q-o-q comparison (Q2 growth was updated to +0.3%), total employment in terms of national accounts continued to fall. The number of employed persons adjusted for seasonal effects decreased by 2.3%, compared to Q3 2008 and by 0.3%, compared to Q2 2009. The development of employment reflects with delay the drop of economic performance.
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Along with the estimate for the respective quarter the corresponding quarterly indicators were updated in connection with a complete set of annual national accounts for 2008 published in compliance with the Plan of Publications already on 1 October on the CZSO web site.
Gross domestic product adjusted for price, seasonal and working days effects
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The standard estimate of GDP and its formation and use components including usual classifications will be published on 9 December.
Kontakt: Ing. Jan Heller, tel. 274 052 865, e-mail: jan.heller@csu.gov.cz