Czech Republic Economic Sentiment January 2019

Czech Republic

Czech Republic: Economic sentiment falls to year-and-a-half low in January

January 24, 2019

The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), dipped from 98.6 points in December to 98.0 in January, 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 96.4 in December to 95.7 in January, the weakest reading in over a year-and-a-half. The print reflected weaker sentiment in the industry, trade and services sectors, which more than offset the improvement in construction.

Meanwhile, consumers’ sentiment was unchanged in January, with the consumer confidence index remaining steady at December’s 109.2. Notably, consumers’ assessment over the unemployment situation deteriorated somewhat compared to December. That said, consumer confidence remains well above the historical average.

FocusEconomics panelists expect private consumption to expand 3.1% in 2019, which is down 0.1 percentage points from last month’s projection, and 2.5% in 2020. Meanwhile, fixed investment is seen increasing 4.3% in 2019, which is up 0.1 percentage points from last month’s estimate, and 3.4% in 2020.

Author:, Economist

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Czech Republic Economic Sentiment Chart

CzechRepublic Economic Sentiment January 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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