Czech Republic Economic Sentiment January 2021

Czech Republic

Czech Republic: Economic sentiment weakens in January amid tighter coronavirus restrictions

January 26, 2021

The economic sentiment indicator, published by the Czech Statistical Office (CSO), dropped to 87.3 in January (December: 88.6).

The business confidence index decreased in January, coming in at 87.1, down from December’s 87.8 reading. The deterioration was broad-based, with sentiment declining in the industry, trade, construction and selected services sectors.

Moreover, consumer confidence fell in January, with the consumer confidence index dropping to 88.5 from 92.0 in December. The decrease reflected consumers’ mounting concerns regarding unemployment as well as the overall economic situation.

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 January 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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