Business cycle survey - June 2015

Overall confidence in economy increased

24.06.2015
Code: 070008-15
 

Overall confidence in domestic economy increased in June. The composite confidence indicator (economic sentiment indicator) increased by 1.7 points m-o-m. Confidence of entrepreneurs increased by 2 points, compared to May. Among entrepreneurs confidence increased in industry and in selected services, in trade increased slightly and in construction decreased slightly. Consumer confidence indicator increased slightly by 0.7 points, m-o-m. Composite confidence indicator, entrepreneurs confidence indicator and consumer confidence indicator are higher, compared to June 2014.

In industry, in June, confidence increased by 1.7 points. The assessment of current overall economic situation of the respondents decreased. The assessment of current total and foreign demand increased. According to respondents, stocks of finished goods almost unchanged. For the next three months, respondents expect almost no changes in the development of production activity and a slight increase in the employment. Expectations of general economic situation development for the next three as well as six months decreased, compared to May. All in all, confidence in industry is higher, y-o-y.

In June, confidence in construction decreased slightly by 1 point. The assessment of current economic situation of the respondents almost unchanged, m-o-m. The assessment of total demand for construction work almost unchanged too, but its expectation for the next three months decreased, compared to May. Respondents expect for the next three months a decrease in the development of construction activity and in the employment too. Expectations of the economic situation development for the next three as well as six months decreased. Overall, confidence in construction is higher, y-o-y.

In June, confidence in trade increased slightly by 0.6 points, m-o-m. The assessment of current economic situation of the respondents increased slightly, m-o-m. The stocks almost unchanged. Expectations of the economic situation development for the next three months almost unchanged, for the next six months increased, compared to May. Overall, confidence in trade is higher, y-o-y.

In selected services (incl. banking sector), in June, confidence increased by 3 points. The assessment of current economic situation of the respondents almost unchanged, m-o-m. The assessment of demand in June increased, its expectations for the next three months almost unchanged. Expectations of total economic situation development for the next three months almost unchanged, for the next six months increased slightly, compared to May. All in all, confidence in selected services is higher, y-o-y.

In June, consumer confidence indicator increased slightly by 0.7 points, m-o-m, and it is still higher y-o-y. The survey taken among consumers in June indicates that consumers are for the next twelve months a little less afraid of a decrease in the overall economic situation. Worries about their financial standing as well as worries about rise in the unemployment almost unchanged m-o-m. The share of respondents intending to save money almost unchanged too, compared to May. The respondents concern about rises in prices did not change.

Notes:
Responsible manager: Juraj Lojka, director
Contact person: Jiří Obst, tel. +420274054116, e-mail: jiri.obst@czso.cz
Data source: CZSO business survey, GfK Czech consumer survey
Business and Consumers Surveys are co-financed by grant agreements of the European Commission DG ECFIN
End of data collection: June 17, 2015
Related publication: 070008-15 Business Cycle Survey in Enterprises of Industry, Construction, Trade and Selected Services (https://www.czso.cz/csu/czso/business-cycle-surveys)
Next News Release: July 24, 2015

This press release was not edited for language.

  •      akpr062415.docx

  • Annexes:
  • Table 1 Confidence Indicators – basic indices
  • Table 2 Balances of Confidence Indicators
  • Graph 1.1 Seasonally Adjusted Confidence Indicators (2008 - 2015)
  • Graph 1.2 Seasonally Adjusted Confidence Indicators (1998 - 2015)
  • Graph 2 Seasonally Adjusted Confidence Indicators in Industry, Construction, Trade, and in Selected Services
  • Graph 3 Economic Sentiment Indicators – international comparison
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Published: 24.06.2015
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz