Home / Knowledge / News / Growth of GDP slowing down to 4.5%
Growth of GDP slowing down to 4.5%
20
Aug '08
The slowdown of domestic economic growth measured by growth of gross domestic product, which was indicated in the previous quarter, has been borne out by figures for Q2 2008. According to a preliminary estimate based on partial information, real GDP (adjusted for seasonal and working day effects) increased by 0.9% in comparison to Q1 2008 and by 4.5% compared to Q2 2007.

Not seasonally adjusted (NSA) GDP grew by 4.3% year-on-year. At the same time, based on updated statistical and administrative data, GDP estimate for Q1 2008 was revised down from 5.3% to 5.1%.

There were more underlying causes of the GDP slowdown. Besides the low economic growth in the countries of the main trading partners, the factors were especially the high comparative basis of Q2 2007, strong appreciation of CZK against USD and EUR which, together with decreasing terms of trade, had an impact on economic activities of the business sector, and the moderate slowdown of final household consumption expenditure due to the trend of consumer prices.

The source of GDP growth in Q2 2008 was in particular a considerably stronger external demand than supply which resulted in a high trade balance surplus in goods and services.

Growth of employment was among the contributors to increasing economic performance. An estimate using the results of the Labour Force Sample Survey in combination with currently available administrative data suggests that seasonally adjusted total employment grew by 0.4% in comparison to Q1 2008 and by 1.8% compared to Q2 2007. Also NSA employment rose by 1.8% year-on-year.

The year-on-year changes varied from one price group to another in Q2 2008. However, the different price movements of selected commodities, marked growth of consumer prices and considerable decrease of most import and especially export prices did more or less offset each other, so that the overall price level expressed by GDP deflator increased by 1.7%; gross value added deflator grew by only 1.0%.

Czech Republic Statistical Office


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search