Czech Republic Economic Sentiment January 2020

Czech Republic

Czech Republic: Economic sentiment dips to over five-year low at the turn of 2020

January 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), slipped from 99.1 in December to 98.1 in January, the lowest reading since May 2014.

The business confidence index inched down to 96.7 in January from 96.8 in December. The downtick was driven by weaker sentiment in the industrial and construction sectors. Meanwhile, confidence in the trade and services sectors improved in January.

Similarly, consumers turned less optimistic at the turn of 2020, with the consumer confidence index slumping to 104.8 from 110.0 in December. The fall was chiefly due to households’ increased concerns over the general economic situation ahead. Overall, consumer confidence remains well above the long-term average, however.

FocusEconomics panelists expect private consumption to expand 2.7% in 2020, which is down 0.2 percentage points from last month’s projection, and 2.6% in 2021. Meanwhile, fixed investment is seen increasing 1.7% in 2020, which is down 0.1 percentage points from last month’s estimate, and 2.3% in 2021.

Author:, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment January 20 20

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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