Czech Republic: Economic sentiment continues to moderate in August
August 26, 2015
The economic sentiment indicator published by the Czech Statistics Office (CSO) inched down from July’s 96.1 points to 95.7 points in August. August’s reading represented a second consecutive moderation; in June, economic sentiment had reached the highest level in nearly seven years. August’s setback was driven by the fact that businesses were slightly less confident, while confidence among consumer was unchanged. As a result, the index moved slightly further below its 100-point long-term average.
Business sentiment inched down from July’s 94.6 points to 94.2 points in August. The decrease was driven by weakening confidence in the industry and trade sectors. Conversely, confidence in the construction sector was unchanged and the services sector grew more confident in August.
Consumer confidence rested at July’s 103.6 points in August, reflecting that consumers’ assessment of the overall economic situation and their savings capacity as well as their expectations of their own financial situation and the development of unemployment were broadly unchanged compared to July.