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Czech GDP Growth Slows Less Than Expected

The Czech Republic's economic growth slowed less-than-expected in the second quarter, preliminary estimates from the Czech Statistical Office showed on Wednesday.

Gross domestic product grew a seasonally-adjusted 2.7 percent year-on-year in the second quarter following a 2.8 percent expansion in the first three months of the year.

Economists had forecast 2.6 percent growth.

On a quarter-on-quarter basis, GDP rose a seasonally-adjusted 0.6 percent in the second quarter, same as in the previous three months. Economists had forecast 0.5 percent growth.

Second quarter growth was largely led by consumption, mainly household spending, and external demand, the agency said. Meanwhile, investment growth slowed.

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