Czech Republic Economic Sentiment January 2017

Czech Republic

Czech Republic: Economic sentiment improves marginally in January

January 24, 2017

The economic sentiment indicator published by the Czech Statistics Office (CSO) ticked up from December’s 99.1 points to 99.2 points in January, a bit closer to its 100-point average. The reading reflected an improvement in consumer confidence, which more than offset a weaker business confidence reading.

The sub-indicator of business confidence inched down in January to 97.0 points from December’s 97.1 points. The reading reflected lower sentiment in two out of the four sectors covered by the index: industry and services. In the construction sector, confidence remained unchanged at the previous month’s level, while in the trade sector confidence increased. In the industry sector, businesses’ expectations for the general economic situation in the next three and six months deteriorated compared to December. In the construction sector, businesses’ expectations for the next three months decreased, while for the next six months they remained virtually unchanged. Regarding trade and services, businesses’ expectations for both the next three months and the next six months increased.

Consumer confidence rose in January to 110.0 from 108.7 in December, marking a multi-year high. According to the survey, households’ assessments of their financial standing, unemployment prospects and the economic situation in the next twelve months remained unchanged from the previous month. Households were more willing to save money and more concerned about future price increases.

FocusEconomics panelists expect private consumption to expand 2.8% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption growing 2.4%. Panelists see fixed investment increasing 3.2% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect fixed investment to expand 3.6%.

Author: Massimo Bassetti, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment January 2017

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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