Czech Republic Economic Sentiment November 2020

Czech Republic

Czech Republic: Economic sentiment weakens further in November

November 24, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 82.0 in November (October: 86.4), marking the weakest reading in five months.

The business confidence index decreased in November, coming in at 81.7, down from October’s 86.5 reading. The decline was broad-based, with sentiment falling in the industry, trade, construction and selected services sectors.

Moreover, consumer confidence dropped in November, with the consumer confidence index declining to 83.1 from 86.0 in October. The drop reflected consumers’ stronger concerns regarding unemployment as well as weaker 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 November 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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