Czech Republic Economic Sentiment July 2021

Czech Republic

Czech Republic: Economic sentiment drops in July

July 26, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 99.7 in July from 104.0 in June, which had marked the best print since February 2019.

The business confidence index dropped in July, coming in at 99.3, from June’s 103.7 reading. The deterioration came on the back of worsening sentiment in the construction and industry sectors, while confidence in the trade and selected services sectors remained unchanged.

Meanwhile, consumer confidence declined in July, with the index falling to 101.9 from 105.5 in June. The decrease mainly reflected consumers’ mounting concerns regarding the overall economic situation for the next twelve months, unemployment and inflation.

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 July 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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