|Unit||Mil. CZK, CDASA|
|Adjustments||Calendar Adjusted and Seasonally Adjusted|
|Source||The Czech Statistical Office (CZSO)|
|Business Confidence||Mar 2023||6.9||3.8||Balance of Opinion, NSA||Monthly|
|Capacity Utilization||2023 Q1||80.9||80.5||%, SA||Quarterly|
|Industrial Production||Jan 2023||111.41||111.66||Index 2015=100, NSA||Monthly|
|Change in Inventories||2022 Q4||104,914||102,905||Mil. CZK, CDASA||Quarterly|
|Real Change in Inventories||2022 Q4||61,452||62,764||Mil. Ch. 2015 CZK, CDASA||Quarterly|
For the Czech Republic, the quarterly national accounts including the detailed expenditure approach (use of GDP), production approach (gross value added), and income approach (compensation).
Gross domestic product (GDP) is the key indicator of the economic development. It represents the sum of values added by all branches of activities which are considered productive in the system of national accounts (including market and non-market services). Calculations are made at current prices and results are then converted into constant prices so that development excluding influences due to price changes can be kept track of.
Increase (or decrease) of GDP in constant prices shows by how many percent it increased (or decreased) in real terms during the surveyed quarter against the same quarter of the previous year.
GDP is compiled independently using two computational methods – the production approach and the expenditure approach. The income approach is not involved in the balancing process because gross operating surplus (including mixed income) is derived as a residual item. Differences between results of both approaches are removed in the balancing process.
For select GDP(E) and GDP(I) items, we construct seasonally adjusted supplements.
Within every regular quarterly estimate, revisions of results for previous preiods are made. Quarters of the current year may be corrected on the basis of more complete and updated quarterly data sources. Moreover, revisions due to compilation of annual national accounts are made twice a year. Within every estimate for 1st quarter (published in June), quarters of the year T-3 are corrected due to definitive version of annual accouts and quarters of the year T-2 are corrected due to semi-definitive version of annual accounts. Within every estimate for 3rd quarter (published in December), quarters of the year T-1 are corrected due to preliminary version of annual accounts. No revisions are released within preliminary quarterly estimates.
At the source:
At IMF (SDDS Plus):