Czech Republic Economic Sentiment November 2021

Czech Republic

Czech Republic: Economic sentiment virtually unchanged in November

November 24, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), dipped to 95.2 in November from 95.3 in October, marking the worst print since April.

Consumer confidence weakened again in November, with the index plunging to 90.4 from 98.5 in October. The fall mainly reflected consumers’ worsening concerns regarding their own financial situation, the overall economic situation for the next twelve months and especially rising prices—as the share of respondents concerned about inflation reached the highest level in the survey’s history.

Meanwhile, the business confidence index rose in November, coming in at 96.2, up from October’s 94.7 reading. The improvement came on the back of rosier sentiment in the industry and construction sectors, while confidence in the trade and selected services sectors deteriorated.

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.


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Czech Republic Economic Sentiment Chart

Czech Republic Economic Sentiment November 2021

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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