Czech Republic Economic Sentiment July 2016

Czech Republic

Czech Republic: Economic sentiment inches up in July

July 25, 2016

The economic sentiment indicator published by the Czech Statistics Office (CSO) remained virtually unchanged in July. It rose slightly from June’s 95.3 points to 95.4 points. The reading reflected/was the result of an increase in business confidence, which offset a decline in consumer confidence. The index remains below its 100-point long-term average, where it has been since mid-2008.

The sub-indicator of business confidence inched up from June’s 93.5 points to 94.0 points in July, which reflected higher confidence the industrial and services sectors, while sentiment decreased in construction and trade. For industry and services, businesses’ expectations for the general economic situation in the next three and six months were virtually unchanged compared to June.

Consumer confidence fell in July to 102.3 from 103.8 in June. The result marked the lowest figure in 21 months. The decrease reflected that consumers have become more concerned about a deterioration of the overall economic situation in the next 12 months. According to the survey, households’ assessment of their financial standing remained unchanged over the previous month, while they were more concerned about an increase in unemployment.

FocusEconomics panelists expect private consumption to expand 3.0% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees private consumption growing 2.6%. Panelists see fixed investment increasing 0.1% in 2016, which is unchanged from last month’s projection. For 2017, panelists expect fixed investment to expand 3.4%.

Author:, Economist

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Czech Republic Economic Sentiment July 2016 2

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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