Czech Republic Economic Sentiment August 2022

Czech Republic

Czech Republic: Economic sentiment weakens further in August

August 24, 2022

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 94.1 in August from 95.7 in July.

The business confidence index decreased to 97.6 from July’s 100.2. The result came on the back of weaker sentiment in the construction, industry, selected services and trade sectors.

Meanwhile, consumer confidence improved in August, with the index increasing to 77.1 from 73.6 in July, which had marked the weakest reading since January 2003. The rise reflected households’ easing concerns over the general economic situation and their own financial situation.

FocusEconomics panelists expect private consumption to increase 5.1% in 2022, which is down 0.2 percentage points from last month’s projection. For 2023, they see consumer spending growth at 3.0%.

Author: Massimo Bassetti, Senior Economist

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