Czech Republic Economic Sentiment June 2021

Czech Republic

Czech Republic: Economic sentiment at over two-year high in June

June 25, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), jumped to 104.0 in June from 99.7 in May, logging the best print since February 2019.

The business confidence index soared in June, coming in at 103.7, from May’s 99.1 reading. The improvement was broad-based, with sentiment strengthening in the construction, industry, trade and selected services sectors.

Meanwhile, consumer confidence surged in June, with the index rising to 104.0 from 99.7 in May. The increase mainly reflected consumers’ easing concerns regarding unemployment over the next 12 months. That said, concerns about inflation intensified.

FocusEconomics panelists expect private consumption to increase 3.5% in 2021, which is down 0.1 percentage points from last month’s projection. For 2022, they see consumer spending growth at 3.6%. Meanwhile, fixed investment is seen growing 4.3% in 2021, which is unchanged from last month’s estimate, and expanding 5.0% in 2022.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment June 2021

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. Long-term average 2003-2019=100.
Source: Czech Statistical Office (CSO).

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