Czech Republic Economic Sentiment August 2020

Czech Republic

Czech Republic: Economic sentiment inches up in August but consumer confidence deteriorates

August 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), edged up to 87.0 in August (July: 86.7).

The business confidence index continued to rise in August, coming at 85.5, up from July’s 84.7 reading. The increase was driven by improving sentiment in the trade, construction and industrial sectors. Meanwhile, sentiment in the selected services sector turned more pessimistic.

In contrast, consumer confidence deteriorated in August, with the consumer confidence index sliding to 94.4 from 96.0 in July. The drop reflected consumers’ increased concerns regarding their financial situation and rising unemployment over the next 12 months.

FocusEconomics panelists expect private consumption to fall 4.5% in 2020, which is up 0.3 percentage points from last month’s projection, and grow 4.0% in 2021. Meanwhile, fixed investment is seen declining 13.3% in 2020, which is down 0.5 percentage points from last month’s estimate, and expanding 5.5% in 2021.


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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment August 20 20 8

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. Long-term average 2003-2019=100.
Source: Czech Statistical Office (CSO).

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