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Czech Republic Economic Sentiment May 2024

Czech Republic: Economic sentiment hits near two-year high in May

Economic sentiment came in at 94.4 in May, up from April’s 92.4. May’s result marked the strongest sentiment since June 2022. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected confidence in the services sector strengthening in May, and improving sentiment in the retail sector in the surveyed month. Conversely, sentiment in the industrial sector languished and sentiment in the construction sector deteriorated. Lastly, consumer sentiment increased in May.

Referring to indicators that are not used to calculate the index, employment expectations deteriorated, while the economic uncertainty index rose in May.

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