Czech Republic Economic Sentiment August 2017

Czech Republic

Czech Republic: Business and consumer confidence spur an improvement in economic sentiment in August

August 24, 2017

The economic sentiment indicator, a composite confidence indicator published by the Czech Statistics Office (CSO), improved in August. It rose from the previous month’s result of 97.7 points to reach 98.7 points. This was on the back of an improvement in the confidence of Czech businesses and consumers.

The business confidence sub-indicator rose from 96.1 points in July to reach a seven-month high of 96.8 points in August. The reading reflected improvements in sentiment in three out of the four sectors covered by the index: industry, construction and trade. Meanwhile, confidence in the services sector remained unchanged.

Consumer confidence also increased in August, rising to 107.9 points from July’s 105.7 points. In recent years, this indicator has been the standout confidence indicator in the Czech Republic. August’s increase was largely driven by better job security expectations among consumers.

FocusEconomics panelists expect private consumption to expand 3.0% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel sees private consumption growing 2.9%. Panelists see fixed investment increasing 3.4% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect fixed investment to expand 4.0%.

Author:, Economist

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Czech Republic Economic Sentiment Chart

CzechRepublic Economic Sentiment August 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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