Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Confidence in the Czech economy strengthens in December

December 28, 2015

The economic sentiment indicator published by the Czech Statistics Office (CSO) improved from November’s 96.0 points to 96.5 points in December, which marked a six-month high. December’s modest increase was mainly driven by the fact that consumers grew more confident and, to a lesser extent, by rising business confidence. Nevertheless, the index remained below its 100-point long-term average.

Business sentiment rose only marginally from November’s 94.2 points to 94.3 points in December. The nearly-stable reading reflects that lower sentiment in the construction and in the trade sectors almost offset rising confidence in the services sector whereas sentiment among industrial enterprises was unchanged.

Consumer confidence hit a record high, increasing from November’s 105.3 to 107.4 in December. The improvement reflected consumers’ fading pessimism regarding the general economic outlook and unemployment as well as rising optimism regarding their own financial situation. Meanwhile, households’ willingness to save and their assessment of price developments were broadly stable.

FocusEconomics panelists expect private consumption to expand 2.7% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees private consumption growing 2.5%. Panelists see fixed investment increasing 3.4% in 2016, which is unchanged from last month’s projection. For 2017, panelists expect fixed investment to expand 3.7%.

Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment December 2015

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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