PRAG (dpa-AFX) - The Czech Republic's economic growth moderated less than initially estimated in the second quarter, the latest data from the statistical office showed on Friday.
Gross domestic product advanced 0.5 percent sequentially, following a revised 0.7 percent rise in the first quarter. In the flash estimate, the rate of expansion was 0.2 percent.
The quarterly development of GDP was positively influenced by a rise in final consumption expenditures and a change in inventories.
The expenditure breakdown showed that final consumption expenditure grew 1.1 percent over the quarter, and gross fixed capital formation advanced by 0.5 percent. Both exports and imports increased by 0.3 percent and 1.5 percent, respectively.
The annual GDP growth improved to 2.6 percent from 2.4 percent. In the flash report, the rate of expansion held steady at 2.4 percent.
The change in inventories was CZK +36.7 billion, which was CZK 27.2 billion more compared to the corresponding quarter of the previous year.
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