Business cycle surveys - July 2023
Overall confidence in the economy increased m-o-m
Product Code: 070008-23
The composite confidence indicator (economic sentiment indicator) – in the basis index form – increased by 1.1 points to 91.4 m-o-m, with the same developments of its components. The business confidence indicator increased by 0.1 percentage points to 91.1 and the consumer confidence indicator increased by 5.9 points to 92.7.
Among entrepreneurs, after a two-month decline, confidence in the economy increased in industry (+2.9 points) and trade (+1.7 points), while it decreased in selected services (-2.5 points) and in construction (-4. 2 points).
Consumer confidence in the economy increased m-o-m. The number of respondents expecting a deterioration of the overall economic situation in the Czech Republic in the next twelve months decreased. The number of households rating their current financial situation worse compared to the previous twelve months also decreased, and for the second time in a row, the number of households who fear a worsening of their own financial situation in the next twelve months also slightly decreased. The share of respondents who believe that the current time is not suitable for making large purchases has hardly m-o-m.
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More detailed information on the development of business and consumer confidence can be found in the supplementary information to the RI business surveys.
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Notes:
Responsible manager: Juraj Lojka, Director of Business Statistics Coordination and Business Cycle Surveys Department, tel. +420731439291, e-mail: juraj.lojka@csu.gov.cz
Contact person: Jiri Obst, Head of Business Cycle Surveys Unit, tel. +420604815440, e-mail: jiri.obst@csu.gov.cz
Data source: CZSO business survey, Data Collect consumer survey (https://www.datacollect.cz)
Data collection date: Business part: July 17, 2023
Consumer part: July 17, 2023
Next News Release: August 24, 2023
This press release wasn´t edited for language.
Detailed time series of Balances and basic indices of confidence indicators: https://csu.gov.cz/produkty/kpr_ts
Business and Consumers Surveys are co-financed by grant agreements of the European Commission DG ECFIN.
https://ec.europa.eu/info/business-economy-euro/indicators-statistics/economic-databases/business-and-consumer-surveys_en
Link to European database: https://ec.europa.eu/eurostat/web/euro-indicators/business-and-consumer surveys