Czech Republic Economic Sentiment October 2020

Czech Republic

Czech Republic: Economic sentiment weakens in October

October 26, 2020

The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 86.4 in October (September: 90.9).

The business confidence index decreased in October, coming in at 86.5, down from September’s 89.5 reading. The decline was driven by a deterioration in sentiment among the trade, construction and selected services sectors more than offsetting somewhat higher sentiment in the industrial sector.

Moreover, consumer confidence plunged in October, with the consumer confidence index diving to 86.0 from 97.6 in September. The drop reflected consumers’ stronger concerns regarding their financial situation, unemployment and the overall economic situation as well as weaker intentions to save.

FocusEconomics panelists expect private consumption to fall 4.5% in 2020, which is up 0.3 percentage points from last month’s projection, and grow 4.0% in 2021. Meanwhile, fixed investment is seen declining 13.3% in 2020, which is down 0.5 percentage points from last month’s estimate, and expanding 5.5% in 2021.

Author: Massimo Bassetti, Senior Economist

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