Czech Republic: Economic sentiment drops in September
September 24, 2012
The seasonally-adjusted economic sentiment index published by the Czech Statistical Office fell to minus 3.8 points in September from minus 3.6 points in August. As a result of the monthly fall, the index is now 5.1 points below the level observed in the same month last year. Consumer confidence declined, as households continue to reveal increasing concerns about the general economic situation in the next 12 months. In addition, respondents to the September survey showed a more pessimistic assessment about both their own financial situation as well as regarding developments in the labour market. Meanwhile, the business confidence indicator improved for a second consecutive month in September. The reading reflected how rising confidence in selected services and in trade more than compensated for deteriorating sentiment in construction and industry.
Author: Ricardo Aceves, Senior Economist