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CZECHIA: Consumer Confidence Ticks Lower, Business Sentiment Improves

CZECHIA
EM BulletBulletEmerging Market NewsCentral and Eastern EuropeCzechia
  • With a high-stakes parliamentary election on the radar, Seznam Zpravy reported that the ruling coalition is preparing a strategy to lure young first-time voters, after struggling to find reservoirs of potential voters elsewhere. Finance Minister Zbynek Stanjura, head of the Spolu coalition's election campaign, estimated that around 240k young people could turn out to vote for the first time. All parties are expected to compete for their support as opinion polls show that the electorate has generally been divided into a government and opposition camp, with "essentially no transfers between them."
  • Stanjura was a guest in an iDNES.cz podcast, noting that the Spolu has set itself an ambitious target of winning 30% of the vote in the autumn election. He boasted success in reducing budget deficit (both in absolute and relative terms), boosting investment this year, and meeting the 2% of GDP target for defence spending. He criticised the Green Deal and promised to push for lifting the ban on combustion engines and withdrawing from the CO2 emission allowance system at the EU level in order to boost the bloc's competitiveness.
  • The CZSO released the results of its business cycle survey. Composite economic sentiment slipped to 97.4 (versus 97.7 expected) as consumer confidence fell to 97.1 (against a median estimate of 100.8) and business confidence crept higher to 97.5 (versus consensus forecast of 97.0). The CZSO said that "the share of consumers expecting the overall economic situation in the Czech Republic to deteriorate over the next twelve months increased slightly for the second consecutive month."
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  • With a high-stakes parliamentary election on the radar, Seznam Zpravy reported that the ruling coalition is preparing a strategy to lure young first-time voters, after struggling to find reservoirs of potential voters elsewhere. Finance Minister Zbynek Stanjura, head of the Spolu coalition's election campaign, estimated that around 240k young people could turn out to vote for the first time. All parties are expected to compete for their support as opinion polls show that the electorate has generally been divided into a government and opposition camp, with "essentially no transfers between them."
  • Stanjura was a guest in an iDNES.cz podcast, noting that the Spolu has set itself an ambitious target of winning 30% of the vote in the autumn election. He boasted success in reducing budget deficit (both in absolute and relative terms), boosting investment this year, and meeting the 2% of GDP target for defence spending. He criticised the Green Deal and promised to push for lifting the ban on combustion engines and withdrawing from the CO2 emission allowance system at the EU level in order to boost the bloc's competitiveness.
  • The CZSO released the results of its business cycle survey. Composite economic sentiment slipped to 97.4 (versus 97.7 expected) as consumer confidence fell to 97.1 (against a median estimate of 100.8) and business confidence crept higher to 97.5 (versus consensus forecast of 97.0). The CZSO said that "the share of consumers expecting the overall economic situation in the Czech Republic to deteriorate over the next twelve months increased slightly for the second consecutive month."