Czech Republic Economic Sentiment December 2016

Czech Republic

Czech Republic: Economic sentiment deteriorates marginally in December

December 27, 2016

The economic sentiment indicator published by the Czech Statistics Office (CSO) decreased from November’s 99.3 points to 99.1 points in December, still close to its 100-point average. The reading reflected a deterioration in business confidence, which more than offset a stronger consumer confidence reading.

The sub-indicator of business confidence dropped in December to 97.1 points from November’s 97.5 points, which had marked the best result since July 2008. The reading reflected lower sentiment in three out of the four sectors covered by the index: industry, construction and trade. In the services sector, confidence remained unchanged at the previous month’s level. For both the construction and the trade sectors, businesses’ expectations for the general economic situation in the next three months deteriorated compared to November, while for the next six months they remained unchanged. For industry and services, businesses’ expectations for the next three months remained unchanged. In the services sector businesses’ expectations also remained unchanged for the next six months while for industry they increased for the same period.

Consumer confidence rose in December to 108.7 from 107.9 in November. The increase reflected improved consumer optimism regarding the economic situation in the next twelve months. According to the survey, households’ assessments of their financial standing, unemployment and prices remained unchanged from the previous month.

FocusEconomics panelists expect private consumption to expand 2.8% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption growing 2.4%. Panelists see fixed investment increasing 3.2% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect fixed investment to expand 3.6%.

Author: Massimo Bassetti, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment December 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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