In November, the economic sentiment indicator published by the National Statistics Office plummeted to 86.6 points from 90.4 points in October, which represents the lowest level since January 2010. The reading more than offset the slight improvement observed in the previous month and now remains 6.1 points below the level observed in the same month last year. The November fall reflected declines in both sub-indicators, particularly in the consumer confidence component. The November survey showed that a majority of businesses continue to hold a pessimistic view of the current economic situation. In addition, a majority of respondents to the November survey lowered their expectations for the economic situation in the next three as well as six months and were consequently more pessimistic about an increase in total demand, particularly in the services and trade sectors. Moreover, consumer confidence deteriorated significantly in November, with the sub-indicator falling to its lowest level since September 1999. The reading reached even lower levels to those seen during the global financial crisis in 2009. According to the Statistics Office, the reading showed that a majority of consumers are more afraid that the general economic situation will worsen in the next year and, consequently, assessed their own financial situation more pessimistically compared to the previous month. Moreover, more respondents to the November survey expect a rise in unemployment.
Czech Republic Economic Sentiment
Economic sentiment plunges in November, dragged by lowest consumer confidence level in over a decade
November 24, 2011
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Czech Republic Economic News
October 24, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from September’s 97.1 points to 97.5 points in October, marking a nine-month high.
October 10, 2016
In September, consumer prices fell 0.2% from the previous month, matching August’s reading.
October 7, 2016
Industrial production grew 13.1% year-on-year in August, which sharply contrasted the 14.1% fall registered in July and was the best result since May 2011.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit rose from August’s 50.1 to a four-month high of 52.0 in September.
September 29, 2016
At its meeting on 29 September, the Czech National Bank (CNB) decided to leave the two-week repo rate unchanged at its so-called “technical zero” of 0.05%.