In the first quarter, the Czech gross domestic product increased by 0.2% year on year and by 0.3% quarter on quarter for another unconvincing quarterly performance. It is a worsened estimate on the 0.4% y/y and 0.5% q/q growth released by the Czech Statistical Office (CZSO) a month earlier, which surpassed market expectations. “The refined estimate confirmed a slight q/q as well as y/y growth of the Czech economy,” commented Vladimir Kermiet of CZSO. Statisticians highlighted that higher spending of households and external demand “mainly supported” the slight increase, while “gross domestic fo…