Czech economy falls by 4.3 pct in 2009 - CSU

In the last quarter of 2009, the Czech economy contracted by 4.2 percent year-on-year. Compared with the third quarter, GDP was 0.6 percent down at end-2009.

GDP development in the full year 2009 was influenced the most by a significant quarter-on-quarter decrease in the first quarter followed by a slight growth of gross value added in the following quarters, statisticians said.

Without adjustment for seasonal and calendar influences, total real GDP in 2009 was 4.4 percent down. In the fourth quarter, GDP dropped by 3.9 percent year-on-year.

The quarter-on-quarter GDP decline in the last quarter was due to a fall in taxes on products of 6.9 percent mainly as a result of a high comparative base in the third quarter, according to statisticians.

In contrast, a 0.2 percent growth of gross value added was reported for the whole economy due to a positive contribution of the industry. However, a drop in trade, business services and construction had a negative effect, the CSU said.

Statisticians have compiled the preliminary estimate on the basis of partial information from statistical surveys and administrative sources. They will publish the standard estimate of GDP and the development of its components on 11 March.

Author: ČTK
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