Czech Republic Economic Sentiment May 2016

Czech Republic

Czech Republic: Economic sentiment inches up in May

May 25, 2016

The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from April’s 95.6 points to 96.0 points in May. The result marked the first increase in four months and came on the back of an increase in business confidence. Consumer confidence, however, remained unchanged from the previous month. Despite the increase, the index remains below its 100-point long-term average.

Business sentiment inched up from April’s 93.8 points to 94.3 points in May. Sentiment increased in industry and selected services, which offset declines in construction and trade.

Consumer confidence was level in May at April’s 104.3 points. This steady reading reflects that consumers have not become more, or less, concerned about their overall economic situation in the next 12 months. However, consumers did indicate that they were slightly more concerned about employment prospects while worries over their financial standing decreased.

FocusEconomics panelists expect private consumption to expand 2.8% 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 2.0% in 2016, which is unchanged from last month’s projection. For 2017, panelists expect fixed investment to expand 3.3%.

Author:, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment May 2016 1

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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