Czech Republic: Economic sentiment edges down in January
January 24, 2013
The economic sentiment indicator published by the Czech Statistical Office edged down to 82.8 points in January, from the 83.1 points recorded in December. As a result, the index moved 4.4 points below the level observed in the same month last year.
The monthly drop was mainly the result of a further deterioration in consumer confidence. In January, the consumer confidence sub-indicator dropped to a four-month low, as consumers showed more pessimism about the general economic situation in the next 12 months as well as about their own financial situation. Meanwhile, consumers' assessment regarding the unemployment situation remained unchanged compared to the previous month.
Meanwhile, the business confidence sub-indicator remained unchanged over the previous month. The stable figure reflected how lower business confidence in the industrial and in the trade sector was compensated by a small improvement in services compared to the previous month.
Author: Ricardo Aceves, Senior Economist