Czech Republic Economic Sentiment

Czech Republic

Economic sentiment jumps to highest level in almost three years

The economic sentiment indicator developed by the Czech Statistical Office (CSO) inched up to 91.3 points in January, which was up from the 91.2 points recorded in December. The indicator, which now is at its highest point since April 2011, primarily reflects an improvement in consumer confidence.

Consumer confidence jumped to the highest level in over five years in January. According to the CSO, consumers were more optimistic regarding the country's overall economic situation for the next 12 months and their future financial situations in the year ahead. In addition, households' views of the future conditions in the labor market improved over the previous month. Forecasters surveyed by FocusEconomics expect private consumption to expand 0.9% in 2014, which is down 0.2 percentage points from last month's projection. For 2015, the panel sees private consumption growing 1.7%.

Conversely, confidence among businesses waned somewhat in January, reflecting lower business confidence in industry, trade, as well as in selected services. Conversely, business sentiment improved in construction. FocusEconomics panelists see fixed investment increasing 1.8% in 2014, which is down 0.4 percentage points from last month's projection. For 2015, panelists expect investment to expand 3.6%.

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment January 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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