Czech Republic Economic Sentiment June 2019

Czech Republic

Czech Republic: Economic sentiment falls to lowest level since October 2015 in June

June 24, 2019

The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), declined to 95.2 in June from 95.7 in May. June’s result marked an over four-year low. As a result, the indicator moved further below the 100-point mark that separates optimism from pessimism in the Czech economy.

Dwindling confidence among businesses drove June’s fall. The business confidence index dipped from 93.8 in May to 93.1 in June, the lowest reading since June 2016. The print reflected weaker sentiment in the industrial, services and trade sectors.

Meanwhile, consumer confidence was unchanged, with the index stable at May’s 105.1 in June. Consumer confidence remains well above the historical average.

FocusEconomics panelists expect private consumption to expand 2.8% in 2019, which is unchanged from last month’s projection, and 2.7% in 2020. Meanwhile, fixed investment is seen increasing 3.5% in 2019, which is down 0.7 percentage points from last month’s estimate, and 3.4% in 2020.

Author: Angela Bouzanis, Lead Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment June 2019

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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