Business cycle survey - March 2013

Overall confidence in domestic economy increased slightly in March. The composite confidence indicator (economic sentiment indicator) increased by 0.2 points compared to February. Entrepreneurs confidence indicator almost did not change, m-o-m. Among entrepreneurs confidence increased in construction; in industry did not change; in trade and in selected services decreased. Confidence of consumers increased m-o-m. Composite confidence indicator and entrepreneurs confidence indicator are lower; consumer confidence indicator is higher, compared to March 2012.

In industry , in March, the assessment of current overall economic situation of the respondents unchanged. The assessment of current total demand unchanged too, the assessment of foreign demand decreased slightly. According to respondents, stocks of finished goods increased slightly. For the next three months, respondents expect an increase in the development of production activity as well as in the employment. Compare to February, expectations of general economic situation development for the next three as well as six months did not change. All in all, confidence in industry did not change, compared to February, and it is still lower y-o-y.

In construction, in March, the assessment of current economic situation of the respondents did not change m-o-m. The assessment of total demand increased, compared to February. For the next three months, respondents expect no changes in the development of construction activity and a slight decrease in the employment. Expectations of the economic situation development for the next three as well as six months increased, m-o-m. Overall, confidence in construction increased, compared to February, and it is higher y-o-y.

In trade , the assessment of current economic situation of the respondents decreased m-o-m. The stocks did not change. Expectations of the economic situation development for the next three as well as six months did not change too, compared to February. In March, confidence in trade decreased m-o-m, and it is lower y-o-y.

In selected services (incl. banking sector) , in March, the assessment of current economic situation of the respondents did not change, m-o-m. The assessment of demand decreased slightly in March, but its expectations for the next three months did not change. For the next three months, expectations of total economic situation development increased slightly, for the next six months did not change, compare to February. All in all, confidence in selected services decreased slightly m-o-m, and it is lower y-o-y.

Consumer confidence indicator increased in March, m-o-m, and it is higher y-o-y too. The survey taken among consumers in March indicates that consumers are for the next twelve months slightly less afraid of a decrease in the overall economic situation and. Worries about their own financial standing are lower, m-o-m. Worries about increase in unemployment almost did not change, compared to February. The share of respondents intending to save money almost unchanged too. Respondents are still afraid of rise in prices and they do not consider making major purchases.

Notes:
Responsible manager: Juraj Lojka, director
Contact person: Marie Hörmannová, tel. +420274052049, e-mail: marie.hormannova@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: March 18, 2013
Related publication: 1201-13 Business Cycle Survey in Enterprises of Industry, Construction, Trade and Selected Services
Next News Release: April 24, 2013

This press release was not edited for language.

Attachments

⇩ akpr032513.doc
Annexes:
⇩ Table 1 Confidence Indicators – basic indices
⇩ Table 2 Balances of Confidence Indicators
⇩ Graph 1 Seasonally Adjusted Confidence Indicators
⇩ Graph 2 Seasonally Adjusted Confidence Indicators in Industry, Construction, Trade, and in Selected Services
⇩ Graph 3 Economic Sentiment Indicators – international comparison