Czech Republic Economic Sentiment June 2017

Czech Republic

Czech Republic: Economic sentiment remains largely unchanged in June

June 26, 2017

The economic sentiment indicator published by the Czech Statistics Office (CSO) remained largely unchanged in June. It dipped very slightly by 0.1 points from the previous month’s result to 97.1 points. While there was a deterioration in consumer confidence, business confidence improved somewhat from the previous month.

The business confidence sub-indicator rose from May’s 94.9 points to 95.2 points in June. The reading reflected a more notable improvement in sentiment in three out of the four sectors covered by the index: industry, construction and trade. Meanwhile, confidence in the services sector dipped slightly by 0.7 points from the previous month. Confidence in construction increased the most with more upbeat expectations about the development of construction activity over the next three months, while expectations of the economic situation development for the next three and six months were unchanged. On the other hand, in the services sector, businesses’ expectations regarding the economic situation for the next three and six months deteriorated. The industrial and trade sectors recorded improved expectations for the general economic situation in the next three months. And while expectations for the next six months remained steady in the industrial sector, they improved in the trade sector.

Consumer confidence in June fell to 106.2 points from May’s 108.4 points. According to the survey, households were more concerned about an increase in unemployment and future rises in prices, although their assessments of both the economic situation over the next twelve months and their financial standing were unchanged from the previous month. The share of households that intend to save money decreased in June compared to May.

FocusEconomics panelists expect private consumption to expand 2.9% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption growing 2.7%. Panelists see fixed investment increasing 2.8% 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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Czech Republic Economic Sentiment Chart

CzechRepublic Economic Sentiment June 2017

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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