Czech Republic Economic Sentiment July 2020

Czech Republic

Czech Republic: Economic sentiment jumps in July

July 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), continued to rise from April’s over two-decade low in July, coming in at 86.7 (June: 77.2).

The business confidence index climbed to 84.7 in July from 73.8 in June. The increase was mainly driven by improving sentiment in the services, construction and industrial sectors, with the latter posting a record monthly rise. Meanwhile, sentiment in the trade sector turned more pessimistic.

Similarly, consumer confidence strengthened again in July, with the consumer confidence index jumping to 96.0 in July from 93.3 in June. Notably, households turned less concerned over a deterioration of the overall economic situation. Despite the improvement, however, consumer confidence remained well below its long-term average.

FocusEconomics panelists expect private consumption to fall 4.8% in 2020, which is down 0.4 percentage points from last month’s projection, and grow 4.3% in 2021. Meanwhile, fixed investment is seen declining 12.8% in 2020, which is down 1.2 percentage points from last month’s estimate, and expanding 5.1% in 2021.

Author:, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment July 20 20 0

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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