Czech Republic Economic Sentiment

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Czech Republic: Economic sentiment recedes slightly in March

March 24, 2015

The economic sentiment indicator published by the Czech Statistics Office (CSO) inched down from February’s 95.5 to 95.1 in March. March’s print represents a third consecutive drop, after sentiment had followed a continuous upward trend in previous months and reached an over-six-year high in December. March’s reading reflects a mild moderation in business sentiment, whereas consumer confidence remained unchanged. As a result, the index moved a bit further below its 100-point long-term average.

Business sentiment edged down from February’s 93.4 points to 92.9 points in March, the lowest print in five months. The moderation was driven by declining confidence in the services and trade sectors. Conversely, confidence improved in the industry sector and remained unchanged in the construction sector.

Consumer confidence remained at February’s 105.7 points. According to the survey, consumers’ of the overall economic situation, unemployment, their own financial situation and their saving capacity was unchanged compared to the previous month. However, households’ worries about price increases rose compared to February.

FocusEconomics panelists expect private consumption to expand 2.2% 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 4.1% in 2015, which is unchanged from last month’s projection. For 2016, panelists expect fixed investment to expand 4.2%.

Author: Teresa Kersting, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment March 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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