Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Economic sentiment moderates from June's nearly-seven-year high in July

July 24, 2015

The economic sentiment indicator published by the Czech Statistics Office (CSO) receded from June’s 97.0 points, which had marked the highest reading in nearly seven years, to 96.1 points in July. The setback reflects moderations in both business sentiment and consumer confidence. As a result, the index moved slightly farther below its 100-point long-term average.

Business sentiment inched down from June’s 95.5 points to 94.6 points in July. The decrease was driven by weakening confidence in the construction, services and trade sectors. Conversely, sentiment in the industry sector rose slightly in July.

Consumer confidence decreased from June’s 104.3 points to 103.6 points in July, mainly reflecting that consumers’ assessment of the overall economic situation worsened somewhat. In addition, they were slightly more worried about price increases than in June. Meanwhile, consumers’ expectations of their own financial situation and the development of unemployment were almost unchanged compared to the previous month.

FocusEconomics panelists expect private consumption to expand 2.7% in 2015, which is up 0.1 percentage points from last month’s projection. For 2016, the panel sees private consumption also growing 2.5%. Panelists see fixed investment increasing 4.2% in 2015, which is down 0.6 percentage points from last month’s projection. For 2016, panelists expect fixed investment to expand 3.9%.


Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment July 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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