Czech Republic: Economic sentiment falls to lowest level in over three years
November 26, 2012
The economic sentiment index published by the Czech Statistical Office dropped to 82.2 points in November from 83.6 points in October. As a result of the fall, the index is now 4.4 points below the level recorded in the same month last year. The monthly drop reflected a deterioration in the business confidence sub-indicator, which fell to its lowest level in almost three years. The deterioration in business confidence was particularly felt in the construction, trade and industry sectors. In the services sector, business confidence remained unchanged over the previous month. On the other hand, the consumer confidence sub-index rose in November, reaching its highest level since February. The reading reflected consumers' less pessimistic assessment about the general economic situation in the next 12 months. Meanwhile, households' assessment of their own financial standing as well as regarding unemployment developments remained unchanged compared to the previous month.
Author: Ricardo Aceves, Senior Economist