Czech Republic Economic Sentiment February 2021

Czech Republic

Czech Republic: Economic sentiment strengthens in February amid improved business sentiment

February 24, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), rose to 89.7 in February (January: 87.3).

The business confidence index increased in February, coming in at 90.6, from January’s 87.1 reading. The improvement was almost broad-based, with sentiment rising in the industry, construction and selected services sectors. On the other hand, confidence in the trade sector weakened.

Meanwhile, consumer confidence fell in February, with the consumer confidence index dropping to 85.0 from 88.5 in January. The decrease reflected consumers’ mounting concerns regarding unemployment as well as the economic and financial situation over the next 12 months.

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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