Czech Republic Economic Sentiment March 2019

Czech Republic

Czech Republic: Economic sentiment falls to two-year low in March

March 25, 2019

The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), tumbled from 98.2 points in February to 97.0 in March, a two-year low. 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 dipped from 96.5 in February to 95.5 in March. The print reflected weaker sentiment in the industrial, trade and services sectors more than offsetting higher confidence in the construction sector.

Similarly, consumers turned less optimistic in March, with the consumer confidence index declining to 104.6, the lowest reading since August 2016 (February: 106.4). The slump was largely due to a deterioration of households’ assessment over their financial standing and the unemployment situation ahead compared to February. That said, consumer confidence remains well above the historical average.

FocusEconomics panelists expect private consumption to expand 3.2% in 2019, which is unchanged from last month’s projection, and 2.7% in 2020. Meanwhile, fixed investment is seen increasing 4.5% in 2019, which is up 0.2 percentage points from last month’s estimate, and 3.7% in 2020.

Author:, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment March 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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