Czech Republic Economic Sentiment February 2020

Czech Republic

Czech Republic: Economic sentiment slips to six-year low in February

February 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), dipped from 98.1 in January to 97.6 in February, the lowest reading since February 2014.

The business confidence index edged down to 96.3 in February from 96.7 in January, driven by weaker sentiment in the services and construction sectors. Meanwhile, confidence in the trade and industrial sectors improved from the previous month.

Similarly, consumers turned less optimistic in February, with the consumer confidence index declining to 104.1 in February from 104.8 in January. The drop was chiefly due to households’ increased concerns over the general economic situation ahead. Overall, consumer confidence remains well above the long-term average, however.

FocusEconomics panelists expect private consumption to expand 2.6% in 2020, which is unchanged from last month’s projection, and 2.5% in 2021. Meanwhile, fixed investment is seen increasing 2.1% in 2020, which is down 0.2 percentage points from last month’s estimate, and 2.9% in 2021.

Author:, Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment February 20 20

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. Long-term average 2003-2019=100.
Source: Czech Statistical Office (CSO).

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