Czech Republic Economic Sentiment

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Czech Republic: Economic sentiment in February inches down from over six-year high

February 23, 2015

The economic sentiment indicator published by the Czech Statistics Office (CSO) inched down from January’s 96.4 to 95.5 in February. February’s print represents a second consecutive drop, after sentiment had followed a continuous upward trend in previous months and reached an over six-year high in December. February’s reading reflects a mild moderation in both business and consumer confidence. As a result, the index moved a bit further below its 100-point long-term average.

Business sentiment edged down from January’s 94.3 points to 93.4 points in February. The moderation was driven by declining confidence in the services, construction and industry sectors. Conversely, confidence in the trade sector improved.

Consumer confidence fell from 106.7 points in January, which had marked the highest level since March 2007, to 105.7 in February. According to the survey, correspondents were slightly less optimistic about the overall economic situation. However, their assessment of their own financial situation, their saving capacity, unemployment, and price developments remained broadly unchanged.

FocusEconomics panelists expect private consumption to expand 2.2% in 2015, which is up 0.1 percentage points from last month’s projection. For 2016, the panel sees private consumption growing 2.3%. Panelists see fixed investment increasing 3.9% in 2015, which is unchanged 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 February 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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