Czech Republic Economic Sentiment August 2021

Czech Republic

Czech Republic: Economic sentiment dips in August

August 24, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 98.6 in August from 99.7 in July, marking the worst print since April.

The business confidence index dropped in August, coming in at 97.1, from July’s 99.3 reading. The deterioration came on the back of worsening sentiment in the trade, selected services and industry sectors, while confidence in the construction sector improved.

Meanwhile, consumer confidence rose in August, with the index jumping to 106.0 from 101.9 in July. The increase mainly reflected consumers’ easing concerns regarding unemployment and the overall economic situation for the next twelve 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 August 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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