Czech Republic Economic Sentiment March 2021

Czech Republic

Czech Republic: Economic sentiment declines in March

March 24, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), dropped to 87.0 in March (February: 89.7).

The business confidence index decreased in March, coming in at 87.7, from February’s 90.6 reading. The deterioration was almost broad-based, with sentiment weakening in the industry, trade and selected services sectors. On the other hand, confidence in the construction sector improved.

Meanwhile, consumer confidence fell in March, with the index dropping to 84.0 from 85.0 in February. The decrease reflected consumers’ mounting concerns regarding unemployment as well as the economic situation over the next 12 months.

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 March 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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