Czech Republic Economic Sentiment March 2016

Czech Republic

Czech Republic: Economic sentiment decreases in March

March 24, 2016

The economic sentiment indicator published by the Czech Statistics Office (CSO) fell from February’s 97.1 points to 96.7 points in March. The result marked the second consecutive drop, following January’s multi-year high, and came on the back of moderations in both consumer confidence and, albeit to a lesser extent, business sentiment. Thus, the index remained below its 100-point long-term average.

Business sentiment inched down from February’s 95.3 points to 95.1 points in March. Sentiment dropped notably in the construction sector while sentiment in the industry and trade sectors recorded moderate declines. Conversely, sentiment in the services sector increased.

Consumer confidence fell from February’s 106.2 points to 104.8 points in March. This decline mainly reflects that consumers turned more pessimistic regarding the general economic outlook. While consumers’ saving capability decreased slightly, their concerns about their own financial situation, unemployment and price increases were broadly unchanged.

FocusEconomics panelists expect private consumption to expand 2.7% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, the panel sees private consumption growing 2.6%. Panelists see fixed investment increasing 2.1% in 2016, which is down 0.3 percentage points from last month’s projection. For 2017, panelists expect fixed investment to expand 3.3%.

Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment March 2016

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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