Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Economic sentiment reaches highest level in over six years

December 29, 2014

In December, the economic sentiment indicator published by the Czech Statistics Office (CSO) inched up to 96.5 points from 95.2 points in November. The figure marked the highest level since August 2008. December’s increase resulted from an improvement in both consumers’ and businesses’ confidence. However, despite the rise, the index remains below its 100-points long-term average.

Business sentiment inched up from 93.5 points in November to 94.8 points in December and now sits at its highest level since February 2011. According to the CSO, the improvement in business sentiment was felt in all sectors. Trade and construction recorded the biggest increases compared to the previous month.

The consumer confidence index rose from 103.6 points in November to 105.1 points in December, which recorded the highest level since March 2007. According to the survey, consumers in December were less afraid of a deterioration in the overall economic situation compared to the previous months. However, their concern about their own financial standing was unchanged over November.

FocusEconomics panelists expect private consumption to expand 2.0% in 2015, which is unchanged from last month’s projection. For 2016, the panel sees private consumption growing 2.3%. Panelists see fixed investment increasing 3.8% in 2015, which is unchanged from last month’s projection. For 2016, panelists expect fixed investment to expand 4.2%.

Author:, Senior Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment December 2014

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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