Czech Republic: Economic sentiment drops for the second consecutive month in December
The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), dipped from 99.3 points in November to 98.6 in December, the lowest reading since July 2017. As a result, the indicator moved further below the 100-point mark that separates optimism from pessimism in the Czech economy.
The business confidence index declined from 97.8 in November to 96.4 in December, the weakest reading in five months. The print reflected weaker sentiment in the industry and services sectors, which more than offset improvements in construction and trade.
In contrast, consumers turned more optimistic in December, with the consumer confidence index increasing to 109.2 points from 106.9 in November. The increase was mainly due to consumers’ being less worried about their financial situation. Consumer confidence remains well above the historical average.