Czech Republic Economic Sentiment March 2020

Czech Republic

Czech Republic: Economic sentiment slides to over six-year low in March

March 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), dipped for the third month running to 94.4 in March (February: 97.6), marking the lowest reading since October 2013.

The business confidence index slid from 96.3 in February to 93.1 in March, driven by weaker sentiment in the services, trade and industrial sectors. Notably, confidence in the construction sector remained stable and upbeat from the previous month.

Similarly, consumers turned less optimistic in March, with the consumer confidence index falling to 100.5 in March from 104.1 in February. The drop was chiefly due to households’ increased concerns over the general economic situation ahead and their own financial standing. Overall, consumer confidence remained above the long-term average, however.

FocusEconomics panelists expect private consumption to expand 2.5% in 2020, which is down 0.1 percentage points from last month’s projection, and 2.5% in 2021. Meanwhile, fixed investment is seen increasing 2.0% in 2020, which is down 0.1 percentage points from last month’s estimate, and 3.0% in 2021.

Author:, Economist

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