Czech Republic Economic Sentiment

Czech Republic

Economic sentiment reaches three-year high

The economic sentiment indicator published by the Czech Statistical Office (CSO) rose from 91.2 points in February to 92.4 points in March. The reading reflected higher confidence among business and consumers. As a result of the increase, the index moved closer to the 100-point long-term average. Business confidence reached the highest level since October 2011, reflecting increased confidence in the industrial sector and in services. Business confidence regarding trade was unchanged, while it decreased in construction. FocusEconomics panelists see fixed investment increasing 1.7% in 2014, which is up 0.3 percentage points from last month's projection. For 2015, panelists expect investment to expand 3.2%. Confidence among consumers increased notably in March, reflecting households' more optimistic views regarding the country's overall economic situation for the next 12 months as well as their future financial situations. In addition, consumers' views on the future conditions in the labor market improved over the previous month. FocusEconomics panelists expect private consumption to expand 0.9% in 2014, which is up 0.1 percentage points from last month's projection. For 2015, the panel sees private consumption growing 1.6%.

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment March 2014

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

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