Czech Republic Economic Sentiment

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Czech Republic: Economic sentiment decreases slightly in October

October 26, 2015

The economic sentiment indicator published by the Czech Statistics Office (CSO) inched down from September’s 95.9 points to 95.1 points in October, which marked a six-month low. October’s reading continues the slight downward trend that has been in place since sentiment hit a nearly-seven year high in June and was just briefly interrupted in September. October’s slight setback was driven by the fact that businesses were less confident, while confidence among consumers strengthened. As a result, the index remained below its 100-point threshold.

Business sentiment fell from September’s 94.4 points to 93.2 points in October. The decrease was mainly driven by a deterioration in industry and, to a lesser extent, services. Conversely, sentiment in the construction sector was unchanged and sentiment improved in the trade sector.

Consumer confidence edged up from September’s 103.3 to 104.8 in October, reflecting consumers’ growing optimism regarding their financial situation and unemployment, which more than compensated for a slightly more pessimistic assessment of the general economic conditions. Consumer’s willingness to save was unchanged compared to September.

FocusEconomics panelists expect private consumption to expand 3.1% in 2015, which is unchanged from last month’s projection. For 2016, the panel sees private consumption growing 2.7%, which is unchanged from last month’s Consensus. Panelists see fixed investment increasing 5.6% in 2015, which is unchanged from last month’s projection. For 2016, panelists expect fixed investment to expand 3.5%, which is also unchanged from last month’s projection.

Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment October 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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