Czech Republic Economic Sentiment September 2016

Czech Republic

Economic sentiment edges up in September

The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from August’s 96.8 points to 97.1 points in September, marking a seven-month high. The reading reflected an increase in consumer confidence, which more than offset a slight decrease in business confidence. The index nevertheless remains below its 100-point long-term average, as it has been since mid-2008.

The sub-indicator of business confidence inched down from August’s 95.3 points to 95.2 points in September. The deterioration reflected lower confidence in the industrial, construction and trade sectors, while sentiment increased in the services sector. For services and industry, businesses’ expectations for the general economic situation in the next three months were virtually unchanged compared to August, while for the next six months expectations decreased; for construction expectations for the next three months decreased, while for the next six months they were unchanged.

Consumer confidence rose in September to 106.4 from 104.3 in August. The result marked an eight-month high. The rise reflected that consumers have become less concerned about a deterioration in the overall economic situation in the next 12 months. According to the survey, households’ assessments of their financial standing and of unemployment remained unchanged over the previous month, while they were more concerned about an increase in prices.

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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