Czech Republic: Economic sentiment decreases slightly in October
October 26, 2015
The economic sentiment indicator published by the Czech Statistics Office (CSO) inched down from September’s 95.9 points to 95.1 points in October, which marked a six-month low. October’s reading continues the slight downward trend that has been in place since sentiment hit a nearly-seven year high in June and was just briefly interrupted in September. October’s slight setback was driven by the fact that businesses were less confident, while confidence among consumers strengthened. As a result, the index remained below its 100-point threshold.
Business sentiment fell from September’s 94.4 points to 93.2 points in October. The decrease was mainly driven by a deterioration in industry and, to a lesser extent, services. Conversely, sentiment in the construction sector was unchanged and sentiment improved in the trade sector.
Consumer confidence edged up from September’s 103.3 to 104.8 in October, reflecting consumers’ growing optimism regarding their financial situation and unemployment, which more than compensated for a slightly more pessimistic assessment of the general economic conditions. Consumer’s willingness to save was unchanged compared to September.