Czech Republic Economic Sentiment September 2021

Czech Republic

Czech Republic: Economic sentiment drops in September

September 24, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 96.2 in September from 98.6 in August, marking the worst print since April.

The business confidence index dropped in September, coming in at 95.3, from August’s 97.1 reading. The deterioration came on the back of worsening sentiment in the industry and construction sectors, while confidence in the trade and selected services sectors improved.

Meanwhile, consumer confidence soured in September, with the index plunging to 100.7 from 106.0 in August. The decrease mainly reflected consumers’ worsening concerns regarding inflation 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 September 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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