News from the Czech economy

The Czech Republic´s gross domestic product stagnated in Q3 2011 in the quarter-on-quarter comparison, according to the preliminary estimate by the Czech Statistical Office (ČSÚ). The y/y growth reached 1.5%. The authority says that the trend of gradual slowdown of the economic performance has thus been confirmed. The continual drop in domestic demand in the past quarter-year was thus compensated by the positive development of foreign trade, which remains the only growing expenditure component in GDP, despite weaker foreign demand.

Export prices gained 1.3% m/m in September, while import prices grew by 1.5%. Terms of trade dropped to 99.8% month-on-month. According to the data from the Czech Statistical Office (ČSÚ), the most negative terms of trade values were registered by foodstuffs (97.6%) and mineral fuels (97.7%). In the year-on-year comparison, export prices grew by 3.1% and import prices by 5%.

(Source: Daily News Czech AM, www.cianews.eu)