Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Economic sentiment improves in May

May 25, 2015

The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from April’s 95.1 points to 95.5 points in May. The improvement reflects that a slight improvement in business sentiment offset a small decrease in consumer confidence. Nevertheless, the index stayed below its 100-point long-term average.

Business sentiment inched up from April’s 93.2 points to 93.8 points in May. The improvement was driven by higher confidence in the services and in the industrial sectors. Conversely, sentiment was unchanged in construction and moderated in the trade sector.

Consumer confidence decreased from April’s 104.3 points to 103.6 points in May, reflecting mainly that consumers’ assessment of the overall economic situation worsened slightly. However, their expectations on their own financial situation and on price increases were stable compared to April. In addition, their expectations regarding unemployment and their saving capacity were also broadly unchanged.

FocusEconomics panelists expect private consumption to expand 2.3% in 2015, which is up 0.1 percentage points from last month’s projection. For 2016, the panel sees private consumption growing 2.4%. Panelists see fixed investment increasing 4.5% in 2015, which is up 0.4 percentage points from last month’s projection. For 2016, panelists expect fixed investment to expand 4.1%.

Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment May 2015

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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