Czech Republic: Economic sentiment improves further in November
November 24, 2014
In November, the economic sentiment indicator published by the Czech Statistics Office (CSO) inched up to 95.2 points in November from 94.1 points in October, thus marking the highest level since January 2011. November’s increase resulted from an improvement in both consumers’ and businesses’ confidence. However, despite the rise, the index remains below its 100-points long-term average.
Business sentiment inched up from 92.8 points in October to 93.5 points in November, which represented the highest figure since June 2011. According to the CSO, the improvement in business sentiment was felt particularly in firms in the construction and services sectors. On the other hand, sentiment among businesses in the trade sector deteriorated compared to the previous month.
The consumer confidence index rose from 100.2 points in October to 103.6 points in November. The index now sits at its highest level since March 2007. According to the survey, consumers in November were less worried of a deterioration in the overall economic situation of the country compared to the previous month. In addition, their concern about rises in prices was lower compared to October.
Author: Dirina Mançellari, Senior Economist