Czech Republic: Economic sentiment dips to over five-year low at the turn of 2020
The economic sentiment indicator, published by the Czech Statistical Office (CSO), slipped from 99.1 in December to 98.1 in January, the lowest reading since May 2014.
The business confidence index inched down to 96.7 in January from 96.8 in December. The downtick was driven by weaker sentiment in the industrial and construction sectors. Meanwhile, confidence in the trade and services sectors improved in January.
Similarly, consumers turned less optimistic at the turn of 2020, with the consumer confidence index slumping to 104.8 from 110.0 in December. The fall was chiefly due to households’ increased concerns over the general economic situation ahead. Overall, consumer confidence remains well above the long-term average, however.