PRAG (dpa-AFX) - The Czech Republic's economy expanded at a slower pace in the first quarter, as expected, the flash data from the statistical office showed on Wednesday.
Gross domestic product advanced 0.5 percent sequentially, slower than the 0.7 percent expansion in the fourth quarter. The economy has been expanding since the fourth quarter of 2023.
The overall growth in the March quarter was supported by a continued increase in the final consumption expenditure of households. Apart from that, gross capital formation and the external demand had a slightly positive influence.
On a yearly basis, GDP growth accelerated to 2.0 percent in the first quarter from 1.8 percent in the previous quarter, in line with expectations.
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