Quarterly GDP preliminary estimate - 2nd quarter of 2010
GDP up by 2.2% in the second quarter, year-on-year
Publication Date: 13. 08. 2010
Product Code: r-5001-10
In Q2 2010, GDP adjusted for price, seasonal and working day effects increased by 2.2%, y-o-y, and compared to Q1 by 0.8%. Total employment decreased by 1.0%, y-o-y; on the contrary, it increased by 0.1% compared to Q1.
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In Q2 2010, according to the preliminary estimate, real GDP (adjusted for seasonal and working day effects) increased by 2.2% in comparison to Q2 2009. Compared to Q1 2010, GDP was by 0.8% higher. Not taking into account the different number of working days in Q2 2010 and Q2 2009, GDP would be by 2.7% higher, y-o-y. The y-o-y GDP increase was, the same as in Q1, positively influenced mainly by growth of manufacturing; however, that was partially resulting from the very low comparison base of the last year. More marked y-o-y surpluses were recorded also in transport and market services.
While GDP in Q2 increased both in the y-o-y and q-o-q comparison, total employment in terms of national accounts decreased by 1.0% (seasonally adjusted), y-o-y. The y-o-y decrease of the number of persons employed by 52.2 thousand persons was contributed to mainly by industry (-41.5 thousand persons). Compared to Q1, total employment was by 0.1% higher, especially owing to the current stabilization of employment in industry.
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The standard estimate of GDP formation and use will be published on 8 September 2010.
Contact: Jan Heller, phone (+420) 274 052 865, e-mail: jan.heller@csu.gov.cz