Czech Republic Economic Sentiment June 2022

Czech Republic

Czech Republic: Economic sentiment weakens in June

June 27, 2022

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 98.3 in June from 101.8 in May.

The business confidence index decreased to 103.1 from May’s 107.0. The result came on the back of weaker sentiment in the industry, construction, trade and selected services sectors.

Meanwhile, consumer confidence fell further in June, with the index decreasing to 74.7 from 75.8 in May, marking the second-weakest reading on record. The decline reflected an increase in the number of households expecting a worsening in the overall economic situation as well as more downbeat expectations on their personal financial situation and increased worries about unemployment.

FocusEconomics panelists expect private consumption to increase 5.1% in 2022, which is down 0.2 percentage points from last month’s projection. For 2023, they see consumer spending growth at 3.0%.


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