Czech Republic Economic Sentiment December 2018

Czech Republic

Czech Republic: Economic sentiment drops for the second consecutive month in December

December 27, 2018

The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), dipped from 99.3 points in November to 98.6 in December, the lowest reading since July 2017. As a result, the indicator moved further below the 100-point mark that separates optimism from pessimism in the Czech economy.

The business confidence index declined from 97.8 in November to 96.4 in December, the weakest reading in five months. The print reflected weaker sentiment in the industry and services sectors, which more than offset improvements in construction and trade.

In contrast, consumers turned more optimistic in December, with the consumer confidence index increasing to 109.2 points from 106.9 in November. The increase was mainly due to consumers’ being less worried about their financial situation. Consumer confidence remains well above the historical average.

FocusEconomics panelists expect private consumption to expand 2.5% in 2019, which is unchanged from last month’s projection, and 2.3% in 2020. Meanwhile, fixed investment is seen increasing 3.7% in 2018, which is down 0.1 percentage points from last month’s estimate, and 3.2% in 2019.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Economic Sentiment Chart

CzechRepublic Economic Sentiment December 2018

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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