Business cycle survey - May 2017

Overall confidence in economy almost unchanged, m-o-m

24.05.2017
Code: 070008-17
 

Overall confidence in domestic economy almost unchanged in May. The composite confidence indicator (economic sentiment indicator), that is stated by basic indices, decreased very slightly by 0.2 points to 97.2 m-o-m. Confidence of entrepreneurs decreased slightly by 0.2 points to 94.9 compared to April. Consumer confidence indicator did not change and remains at the same value 108.4, m-o-m. Composite confidence indicator, entrepreneurs confidence indicator and consumer confidence indicator are higher, compared to May 2016.

In industry, in May, confidence decreased very slightly by 0.1 points to 93.6. The assessment of current overall economic situation of the respondents almost unchanged m-o-m. The assessment of current total and foreign demand almost unchanged too. According to respondents, stocks of finished goods did not change. For the next three months, respondents expect almost no changes in the development of production activity and a decrease in the unemployment. Expectations of general economic situation development for the next three as well as six months almost unchanged, compared to April. All in all, confidence in industry is lower, y-o-y.

In construction, in May, confidence decreased by 1.5 point to 77.6. The assessment of current economic situation of the respondents did not change m-o-m. The assessment of total demand for construction work increased, compared to April. 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 too. Overall, confidence in construction is higher, y-o-y.

In May, confidence in trade decreased by 2 points to 98.1. The assessment of current overall economic situation of the respondents decreased m-o-m. The stocks almost unchanged. Expectations of the economic situation development for the next three as well as six months did not change, compared to April. Overall, confidence in trade is lower, y-o-y.

In selected services (incl. banking sector), in May, confidence did not change and remains at the same value 97.7. The assessment of current economic situation of the respondents did not change compared to April. In May, the assessment of demand as well as expectations for the next three months did not change too, m-o-m. Expectations of total economic situation development for the next three months almost unchanged, for the next six months increased. All in all, confidence in selected services is higher, y-o-y.

In May, consumer confidence indicator did not change and remains at the same value 108.4, m-o-m, and it is higher, y-o-y. The survey taken among consumers in May indicates that consumers are for the next twelve months more afraid of a decrease in the overall economic situation. Worries about their financial standing almost unchanged, compared to April. Worries about rise in the unemployment almost unchanged too, m-o-m. The share of respondents intending to save money increased, compared to previous month. The respondents concern about rises in prices almost unchanged.
 

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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: May 18, 2017
Related publication: 070006-17 Business Cycle Survey in Enterprises of Industry, Construction, Trade and Selected Services (https://www.czso.cz/csu/czso/business-cycle-surveys)
Next News Release: June 26, 2017

This press release was not edited for language.

 

  •      akpr052417.docx

  • Annexes:
  • Table 1 Confidence Indicators – basic indices
  • Table 2 Balances of Confidence Indicators
  • Graph 1.1 Confidence indicators – base indices, seasonally adjusted (2008–2017)
  • Graph 1.2 Confidence indicators – base indices, seasonally adjusted (1998–2017)
  • Graph 2.1 Confidence Indicators for industry, construction, trade, and in selected services – baes indices, seasonally adjusted (2006–2017)
  • Graph 2.2 Balances of seasonally adjusted confidence indicators for industry, construction, trade, and in selected services (2006–2017)
  • Graph 3 Economic Sentiment Indicators – international comparison, seasonally adjusted
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Published: 24.05.2017
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