Business cycle survey - August 2017

Confidence of entrepreneurs and consumers increased

24.08.2017
Code: 070008-17
 

Overall confidence in domestic economy increased in August. The composite confidence indicator (economic sentiment indicator), that is stated by basic indices, increased slightly by 1 point to 98.7 m-o-m. Confidence of entrepreneurs increased slightly by 0.7 points to 96.8 compared to June. Consumer confidence indicator increased by 2.2 points to 107.9, m-o-m. Composite confidence indicator, entrepreneurs confidence indicator and consumer confidence indicator are higher, compared to July 2016.

In industry, in August, confidence indicator increase slightly by 0.6 points to 96.8. The assessment of current overall economic situation of the respondents did not change m-o-m. The assessment of current total and foreign demand did not change too. According to respondents, stocks of finished goods almost unchanged. For the next three months, respondents expect an almost unchanged in the development of production activity and in the unemployment too. Expectations of general economic situation in development for the next three as well as six months is higher. All in all, confidence in industry is lower y-o-y.

In construction, in August, confidence increased by 5.7 points to 83.8. 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 June. Respondents expect for the next three months an increase in the development of construction activity and in the employment too. Expectations of the economic situation in development for the next three as well as six months increased. Overall, confidence in construction is higher, y-o-y.

In August, confidence in trade increased by 2.3 points to 102.7. The assessment of current overall 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 increased, for the next six months almost unchanged, compared to July. Overall, confidence in trade is higher, y-o-y.

In selected services (incl. banking sector), in August, confidence did not change and stay on 97.4 points. The assessment of current economic situation of the respondents did not change compared to July. In August, the assessment of demand almost unchanged, as well as its expectations for the next three months. Expectations of total economic situation development for the next three months did not change, for the next six months increased slightly. All in all, confidence in selected services is higher, y-o-y.

In August, consumer confidence indicator increased by 2.2 points to 107.9, m-o-m, and it is still higher, y-o-y. The survey taken among consumers in August indicates that consumers are for the next twelve months equally afraid of a decrease in the overall economic situation. Worries about their financial standing almost unchanged, compared to July. The share of respondents intending to save money increased slightly. Worries about rise in the unemployment decreased slightly, m-o-m. The respondents concern about rises in prices increased slightly.

 

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: August 17, 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: September 25, 2017

This press release was not edited for language.

 

  •      akpr082417.docx

  • Annexes:
  • Table 1 Confidence Indicators – basic indices
  • Table 2 Balances of Confidence Indicators
  • Chart 1.1 Confidence indicators – base indices, seasonally adjusted (2008–2017)
  • Chart 1.2 Confidence indicators – base indices, seasonally adjusted (1998–2017)
  • Chart 2.1 Confidence Indicators for industry, construction, trade, and in selected services – baes indices, seasonally adjusted (2006–2017)
  • Chart 2.2 Balances of seasonally adjusted confidence indicators for industry, construction, trade, and in selected services (2006–2017)
  • Chart 3 Economic Sentiment Indicators – international comparison, seasonally adjusted
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Published: 24.08.2017
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