Quarterly GDP flash estimate - 4th quarter 2009
GDP down by 4.3% in 2009
Publication Date: 12. 02. 2010
Product Code: r-5001-09
In 2009, GDP adjusted for price, seasonal and calendar effects fell by 4.3% in comparison to 2008. In Q4 GDP dropped by 4.2%, y-o-y, and compared to Q3 2009 it was 0.6% down.
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In Q4 2009, according to preliminary estimate, real GDP (adjusted for seasonal and calendar effects) fell by 0.6% compared to Q3 2009 and compared to Q4 2008, GDP was 4.2% down. Total employment in terms of national accounts adjusted for seasonal effects did not show any changes, q-o-q, however, in the y-o-y comparison it dropped by 2.1%.
According to currently available information, the q-o-q drop of GDP in Q4 2009 owed to the taxes on products decrease by 6.9% (especially due to high comparable basis in Q3). By contrast, a 0.2% growth of gross value added was reported for the whole economy due to positive contribution of industry. However, negative effect came from drop in trade, business services and construction.
In 2009, real GDP dropped by 4.3% in total compared to 2008 with the employment falling by 1.3% on average. GDP in 2009 showed a marked q-o-q drop in Q1 followed by insignificant growth of gross value added in the following quarters.
Without adjustment for seasonal and calendar effects, the total real GDP in 2009 was by 4.4% down, in Q4 GDP dropped by 3.9%, y-o-y.
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Preliminary estimate has been compiled on the basis of partial information from statistical surveys and administrative sources. The standard estimate of GDP and its components’ development will be published on 11 March.
Contact: Jan Heller, phone 274 052 865, e-mail: jan.heller@csu.gov.cz