Czech Republic: Economic sentiment hits multi-year high in November
November 24, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from October’s 97.5 points to 99.3 points in November, marking the best result since May 2008 and taking the index closer to its 100-point average. The reading reflected an increase in business confidence, which more than offset a weaker consumer confidence reading.
The sub-indicator of business confidence rose in November to 97.5 points from October’s 95.2 points, marking the best result since July 2008. The reading reflected higher confidence in all sectors: industry, construction, services and trade. For construction and industry, businesses’ expectations for the general economic situation in the next three months remained unchanged compared to October, while for services and trade, expectations improved for the same period; for industry and services, businesses’ expectations for the next six months improved, while they remained unchanged for trade and decreased for services.
Consumer confidence dropped in November to 107.9 from 108.9 in October. The decline reflected that consumers have become more concerned about the economic situation in the next twelve months. According to the survey, households were also more worried about the rise in unemployment and prices, while their assessments of their financial standing remained unchanged from the previous month.