Czech Q2 GDP growth figure was released today. Q2 GDP grew 1.9%, in H1 output grew 3.1% y-to-y. We expected a Q2 2.2% y-to-y growth. The S&P poll median value stood at 1.7% y-to-y growth. In terms of GDP structure, we saw an unexpected strong growth in investments, which grew 5.9%. Domestic demand grew 2.7% and became the main growth factor, while net export slightly deterioriated. A positive development in services (export up 5.5% and import down 5.1%) did not compensated surging trade deficit. The figure released is basically in line with expectations and therefore we expect little effect on the equity market.