The Czech economy hit a speed bump in the second quarter of the year, with its GDP growth slowing from 4.2 percent to just 2.3 percent compared to the same period in 2017. This wasn’t unexpected, but analysts had predicted slightly better results of as much as 2.6 percent. Even in comparison with Q1 2018, the 0.5 percent increase was underwhelming. What growth there was came primarily from consumer spending and capital expenditures by companies. Trade was an important driver of GDP but construction and retail were the key to growth. The Czech Statistics Office reports that employers aren’t seeing any relief on the labor front, as employment levels were 1.9 percent higher than in the second quarter of 2017.
