Czech Republic Economic Sentiment December 2020

Czech Republic

Czech Republic: Economic sentiment strengthens in December

January 11, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), rose to 87.9 in December (November: 82.0), marking the strongest reading in three months.

The business confidence index increased in December, coming in at 87.1, up from November’s 81.7 reading. The improvement was broad-based, with sentiment growing in the industry, trade, construction and selected services sectors.

Moreover, consumer confidence increased in December, with the consumer confidence index rising to 91.7 from 83.1 in November. The hike reflected consumers’ weaker concerns regarding unemployment as well as stronger intentions to save.

FocusEconomics panelists expect private consumption to increase 3.5% in 2021, which is down 0.1 percentage points from last month’s projection. For 2022, they see consumer spending growth at 3.6%. Meanwhile, fixed investment is seen growing 4.3% in 2021, which is unchanged from last month’s estimate, and expanding 5.0% in 2022.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment December 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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