Czech Republic Economic Sentiment April 2017

Czech Republic

Czech Republic: Economic sentiment rebounds in April on more upbeat business sentiment

April 25, 2017

The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from March’s 96.6 points to 97.4 points in April, thus moving closer to the 100-point average. The reading reflected an improvement in business confidence, which more than offset a slight deterioration in consumer confidence.

The business confidence sub-indicator rose in April to 95.1 points from March’s 94.1 points. The reading reflected improved sentiment in two out of the four sectors covered by the index: construction and services. In the trade and industrial sectors, confidence decreased from the previous month’s level. In the services sector, businesses’ expectations regarding the general economic situation over both the next three and six months remained unchanged compared to March. In the construction sector, businesses’ expectations for both the next three and six months increased. In the industry sector, businesses’ expectations for the next three months remained unchanged, while their expectations for the next six months increased slightly. Regarding trade, firms’ expectations for both the next three and six months decreased compared to March.

Consumer confidence dipped in April to 108.4 from March’s 108.7. According to the survey, households’ assessment of the economic situation over the next twelve months did not change, and their assessments of both their financial standing and unemployment prospects also remained unchanged from the previous month. The share of households that declared their willingness to save money decreased slightly in April, while concerns about future price increases moderated.

FocusEconomics panelists expect private consumption to expand 2.8% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption growing 2.4%. Panelists see fixed investment increasing 3.2% in 2017, which is unchanged from last month’s projection. For 2018, panelists expect fixed investment to expand 3.6%.

Author: Massimo Bassetti, Economist

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