Fri, Mar 7 2008, 08:38 GMT
http://www.djnewswires.com/eu
UPDATE: Czech Final 4Q GDP +6.6% YY, 2007 GDP +6.5% YY
PRAGUE (Dow Jones)--The Czech economy expanded 6.6% on the year in the fourth quarter and 6.5% in 2007, with growth coming in healthcare, roadbuilding and government expenditure, data from the Czech Statistics Office, or CSU, showed Friday.
Adjusted for increases in government expenditure in healthcare and in highway building works, fourth-quarter GDP would have grown 6.0% on the year, the CSU said.
The final growth figures were below the CSU's earlier stated flash estimate which showed fourth-quarter gross domestic product growth at 6.9% and full-year 2007 GDP growth at 6.6% on the year.
The market had expected the fourth-quarter figure to be unchanged from the flash estimate. The CSU for the first time this year is releasing GDP data first in flash estimates followed by revisions and details.
Third-quarter GDP growth was also revised lower to 6.3% on the year from 6.4%.
Household spending rose 8.7% in the fourth quarter, compared with an annual rise of 8.3% in the previous quarter.
Government spending growth accelerated to 6.4% annually in the fourth quarter, compared with a 3.2% annual rise in the third quarter of 2007.
Fixed capital creation growth quickened on the year to 9.8% in the final quarter from 7.8% in the third quarter.
Another key factor driving the economy is the country's export-oriented manufacturing sector, which has seen strong annual growth thanks to expansion in the car manufacturers sector.
Exports were up 10.6% on the year in the fourth quarter, compared with an annual rise of 15.8% in the third quarter, while imports rose 8.3% on the year in the final quarter, compared with a 14.1% annual rise in the third quarter, the CSU said.
The total economic output of the country reached 930.42 billion Czech koruna ($56.84 billion) in the fourth quarter, compared with a CZK900.02 billion total the previous quarter.
For the whole of 2007, the Czech Republic's total economic output reached CZK3.558 trillion, compared with CZK3.204 trillion in 2006.
The quarterly data are reported in non-seasonally-adjusted current prices.
-By Sean Carney, Dow Jones Newswires; +420 221 085 272; sean.carney@dowjones.com
(END) Dow Jones Newswires
March 07, 2008 03:38 ET (08:38 GMT)
(Adds details.)
By Sean Carney
Of DOW JONES NEWSWIRES
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Czech 4Q GDP (Final) ! !
4Q 3Q !Consensus: +6.9% !
on yr +6.6% +6.3% !Actual: +6.6% !
==================================================
PRAGUE (Dow Jones)--The Czech economy expanded 6.6% on the year in the fourth quarter and 6.5% in 2007, with growth coming in healthcare, roadbuilding and government expenditure, data from the Czech Statistics Office, or CSU, showed Friday.
Adjusted for increases in government expenditure in healthcare and in highway building works, fourth-quarter GDP would have grown 6.0% on the year, the CSU said.
The final growth figures were below the CSU's earlier stated flash estimate which showed fourth-quarter gross domestic product growth at 6.9% and full-year 2007 GDP growth at 6.6% on the year.
The market had expected the fourth-quarter figure to be unchanged from the flash estimate. The CSU for the first time this year is releasing GDP data first in flash estimates followed by revisions and details.
Third-quarter GDP growth was also revised lower to 6.3% on the year from 6.4%.
Household spending rose 8.7% in the fourth quarter, compared with an annual rise of 8.3% in the previous quarter.
Government spending growth accelerated to 6.4% annually in the fourth quarter, compared with a 3.2% annual rise in the third quarter of 2007.
Fixed capital creation growth quickened on the year to 9.8% in the final quarter from 7.8% in the third quarter.
Another key factor driving the economy is the country's export-oriented manufacturing sector, which has seen strong annual growth thanks to expansion in the car manufacturers sector.
Exports were up 10.6% on the year in the fourth quarter, compared with an annual rise of 15.8% in the third quarter, while imports rose 8.3% on the year in the final quarter, compared with a 14.1% annual rise in the third quarter, the CSU said.
The total economic output of the country reached 930.42 billion Czech koruna ($56.84 billion) in the fourth quarter, compared with a CZK900.02 billion total the previous quarter.
For the whole of 2007, the Czech Republic's total economic output reached CZK3.558 trillion, compared with CZK3.204 trillion in 2006.
The quarterly data are reported in non-seasonally-adjusted current prices.
Statistics Office Web site: www.czso.cz
-By Sean Carney, Dow Jones Newswires; +420 221 085 272; sean.carney@dowjones.com
(END) Dow Jones Newswires
March 07, 2008 03:38 ET (08:38 GMT)
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