Czech Republic Economic Sentiment May 2017

Czech Republic

Czech Republic: Economic sentiment remains largely unchanged in May

May 24, 2017

The economic sentiment indicator published by the Czech Statistics Office (CSO) remained largely unchanged in May. It declined very slightly by 0.2 points from previous month’s result to 97.2 points. While there was a slight deterioration in business confidence, consumer confidence did not change from the previous month.

The business confidence sub-indicator fell from April’s 95.1 points to 94.9 points in May. The reading reflected a more notable deterioration in sentiment in two out of the four sectors covered by the index: construction and trade. Meanwhile, confidence in the industrial sector dipped very slightly by 0.1 points from the previous month; whereas in the service sector, it remained unchanged. Confidence in trade declined the most with a worse assessment of the current economic situation while expectations for the economic situation over the next three and six months were unchanged. On the other hand, in the construction sector, businesses’ expectations regarding the economic situation for the next three and six months deteriorated. The industrial and services sectors recorded no change in expectations for the next three months. And while expectations for the next six months remained steady in the industrial sector, they improved in the services sector.

Consumer confidence in May remained at the same value as April at 108.4. According to the survey, households were more concerned about a decline in the overall economic situation over the next twelve months, although their assessments of both their financial standing and unemployment prospects were unchanged from the previous month. The share of households that intend to save money increased in May compared to April, while there was no change in concern over future price rises.

FocusEconomics panelists expect private consumption to expand 2.9% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption growing 2.7%. Panelists see fixed investment increasing 2.8% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect fixed investment to expand 3.6%.


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Czech Republic Economic Sentiment Chart

CzechRepublic Economic Sentiment May 2017

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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