Czech Republic Economic Sentiment

Czech Republic

Czech Republic: Economic sentiment rises in June to reach over-three-year high

June 24, 2014

The economic sentiment indicator elaborated by the Czech Statistical Office (CSO) rose from 92.6 points in May to 93.6 points in June. The reading, which marked the highest level since February 2011, reflected better economic sentiment on the part of both businesses and consumers. The index, nonetheless, is still slightly below its 100-point long-term average.

June’s improvement in economic sentiment reflected that business confidence increased, particularly in firms in the construction and services sectors. Sentiment among businesses in the trade sector was virtually unchanged compared to the previous month, while businesses in the industrial sector were less upbeat.

Consumer confidence rose to the highest point in six years in June, which indicated that households are more optimistic about the overall economic situation in the next 12 months. Meanwhile, consumers’ views regarding their own financial standing and the evolution of the labor market did not change over the previous month.

FocusEconomics panelists expect private consumption to expand 1.0% in 2014, which is unchanged from last month’s projection. For 2015, the panel sees private consumption growing 1.8%. Panelists see fixed investment increasing 2.5% in 2014, which is up 0.3 percentage points from last month’s projection. For 2015, panelists expect fixed investment to expand 3.3%.

Author:, Senior Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment June 2014

Note: Economic Sentiment Indicator is in compliance with the EU methodology presented as a weighted average of seasonally adjusted confidence indicators in industry, construction, trade, selected services and seasonally adjusted consumer confidence indicator. Average of 2005 = 100.
Source: Czech Statistical Office (CSO).

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