Czech Republic Economic Sentiment June 2020

Czech Republic

Czech Republic: Economic sentiment continues to gradually improve in June

June 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), continued to climb from April’s over two-decade low in June, coming in at 77.2 (May: 75.1).

The business confidence index bounced back in June to 93.3 (May: 91.9) after declining for five consecutive months. The increase was mainly driven by improving sentiment in the trade and services sectors as economic activity has started to gradually firm. Meanwhile, sentiment in the all-important industrial sector turned more pessimistic while confidence in the construction sector declined.

Similarly, consumer confidence strengthened again in June, with the consumer confidence index climbing from 91.9 in May to 93.3 in June. Notably, households were less concerned over a deterioration of their financial situation and unemployment prospects in next 12 months. Despite the improvement, however, consumer confidence remained well below its long-term average.

FocusEconomics panelists expect private consumption to fall 4.4% in 2020, which is down 0.7 percentage points from last month’s projection, and grow 3.9% in 2021. Meanwhile, fixed investment is seen declining 11.6% in 2020, which is down 1.5 percentage points from last month’s estimate, and expanding 4.5% in 2021.

Author:, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment June 20 20

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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