Real GDP at Constant National Prices for Czech Republic
RGDPNACZA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
399,767.31
Year-over-Year Change
24.20%
Date Range
1/1/1990 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Czech Republic' measures the total economic output of the Czech Republic adjusted for inflation. It is a key indicator of the country's economic growth and performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the real gross domestic product (GDP) of the Czech Republic, calculated using a fixed base year to account for price changes over time. It provides a comprehensive measure of the country's economic activity and is widely used by economists, policymakers, and investors to analyze the health and trajectory of the Czech economy.
Methodology
The data is collected and calculated by the Czech Statistical Office based on national accounts data.
Historical Context
This trend is closely monitored by the Czech National Bank and other government agencies to inform economic policy decisions.
Key Facts
- The Czech Republic's real GDP reached a record high in 2019 before the COVID-19 pandemic.
- The service sector accounts for the largest share of the Czech Republic's GDP.
- The Czech economy experienced a sharp contraction in 2020 due to the impact of the pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced in the Czech Republic, adjusted for inflation, providing a comprehensive indicator of the country's economic output and growth.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a crucial metric for assessing the overall health and performance of the Czech economy, and is widely used by economists, policymakers, and investors to make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Czech Statistical Office based on national accounts data.
Q: How is this trend used in economic policy?
A: The Czech National Bank and other government agencies closely monitor this trend to inform their economic policy decisions and assessments of the country's economic conditions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical delay of several weeks after the end of the reference quarter.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Czech Republic (RGDPNACZA666NRUG), retrieved from FRED.