Czech Republic: Economic growth eases in the fourth quarter of 2025
Q4 sequential GDP growth above five year trend: The Czech Republic’s GDP expanded 0.6% in seasonally adjusted quarter-on-quarter terms in Q4, following a 0.8% expansion in the prior quarter. Q4’s print marginally overshot market expectations and the prior five year average.
On a seasonally adjusted year-on-year basis, economic output expanded 2.6% in Q4, following a 2.8% expansion in the prior quarter.
Accordingly, in 2025 as a whole, the economy expanded 2.6%, accelerating from 2024’s 1.1% growth and marking a three-year high.
Drivers: Relative to the prior period’s data, the reading for exports of goods and services worsened in Q4 (+0.8% on a seasonally adjusted quarter-on-quarter basis vs +0.9% in Q3). In contrast, readings picked up for private consumption (+1.3% vs +0.3% in Q3), government consumption (+1.0% vs +0.7% in Q3), fixed investment (+1.7% vs +1.0% in Q3) and imports of goods and services (+0.6% vs +0.2% in Q3).