Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Economic sentiment in January remains virtually unchanged at over six-year high

January 26, 2015

In January, the economic sentiment indicator published by the Czech Statistics Office (CSO) remained virtually unchanged as it inched down only marginally from 96.5 points in December, which had marked the highest level since August 2008, to 96.4 points in January. January’s print reflects that a moderation in business confidence offset an improvement in consumer confidence.

Business sentiment inched down from December’s 94.8 points, which had marked the highest reading since February 2011, to 94.3 points in January. The moderation was mainly driven by declining confidence in the industrial sector. Conversely, confidence in the construction, trade and services sectors improved.

Consumer confidence rose from 105.1 points in December to 106.7 points in January, reaching the highest level since March 2007. According to the survey, while respondents were less worried about unemployment and potential price increases, consumer’s assessment of the general economic and their own financial situation in the next 12 months remained unchanged compared to the previous month.

FocusEconomics panelists expect private consumption to expand 2.1% 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 up 0.1 percentage points from last month’s projection. For 2016, panelists expect fixed investment to expand 4.4%.

Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment January 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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