Czech Republic Economic Sentiment August 2016

Czech Republic

Economic sentiment edges up in August

The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from July’s 95.4 points to 96.8 points in August, marking a six-month high. The reading reflected the result of an increase in both business and consumer confidence. The index nevertheless remains below its 100-point long-term average, where it has been since mid-2008.

The sub-indicator of business confidence edged up from July’s 94.0 points to 95.3 points in August, marking the highest result in six months. The improvement reflected higher confidence in the industrial, construction and trade sectors, while sentiment decreased in the services sector. For industry, services and construction, businesses’ expectations for the general economic situation in the next three and six months were virtually unchanged compared to July.

Consumer confidence rose in August to 104.3 from 102.3 in July. The result marked a three-month high. The rise reflected that consumers have become less concerned of a deterioration of the overall economic situation in the next 12 months. According to the survey, households’ assessment of their financial standing remained unchanged over the previous month, while they were less concerned about an increase in unemployment.

FocusEconomics panelists expect private consumption to expand 3.0% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees private consumption growing 2.6%. Panelists see fixed investment increasing 0.1% in 2016, which is unchanged from last month’s projection. For 2017, panelists expect fixed investment to expand 3.4%.

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment August 2016 0

Note: The Economic Sentiment Indicator is in compliance with the EU methodology presented as a weighted average of confidence indicators in industry, construction, trade, selected services and the consumer confidence indicator. Average of 2005 = 100.
Source: Czech Statistical Office (CSO).

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