Czech Republic: Confidence in the Czech economy recedes slightly from January's multi-year high in February
February 24, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) fell from January’s 98.4 points, which had marked the highest reading in over seven years, to 97.1 points in February. February’s setback was driven by a moderation in both consumer confidence and business sentiment. Thus, the index remained below its 100-point long-term average.
Business sentiment edged down from January’s 96.0 points to 95.3 points in February. Sentiment dropped in the services sector, while it increased slightly in the trade sector. Meanwhile, sentiment in the industry and construction sector was unchanged in February.
Consumer confidence fell from January’s record-high 110.0 points to 106.2 points in February. This decline mainly reflects that consumers turned more pessimistic regarding the general economic outlook. Moreover, they were more concerned about unemployment. Conversely, their worries about price increase receded and their assessment of their own financial situations and their saving intentions were broadly unchanged.