Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Economic sentiment improves slightly in August on more optimistic businesses

August 25, 2014

In August, the economic sentiment indicator published by the Czech Statistics Office (CSO) inched up from 93.0 points in July to 93.4 points. August’s improvement resulted from businesses being more optimistic, while consumer confidence was lower compared to the previous month.

According to the CSO, the improvement in business sentiment was felt particularly in firms in the construction and services sectors. Sentiment among businesses in the industry sector increased slightly compared to the previous month, while businesses in trade were more pessimistic.

Consumer confidence index fell for the first time in seven months and reached its lowest level since March. According to the survey, consumers in August were more worried about an increase in the unemployment rate, compared to July. In addition, their views regarding the country’s economic situation for the next 12 months were more pessimistic compared to the previous month. In contrast, consumers’ feelings about their own financial standing were unchanged.

FocusEconomics panelists expect private consumption to expand 1.0% in 2014, which is unchanged from last month’s projection. For 2015, the panel sees private consumption growing 1.8%. Panelists see fixed investment increasing 2.5% in 2014, which is up 0.3 percentage points from last month’s projection. For 2015, panelists expect fixed investment to expand 3.3%.

Author:, Senior Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment August 2014

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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