Czech Republic: Economic sentiment improves in October
October 24, 2012
The economic sentiment index published by the Czech Statistical Office edged up to 83.6 points in October from 83.2 points in September. Despite the monthly increase, the index remains 6.8 points below the level recorded in the same month last year. The monthly improvement showed that, after falling to a four-month low in September, consumer confidence picked up in October, reflecting consumers' less pessimistic assessment about the general economic situation in the next 12 months. In addition, households were less pessimistic about both their own financial situation as well as regarding developments in the labour market. Simultaneously, the business confidence indicator remained unchanged compared to the previous month. The print reflected rising business confidence in the industrial and construction sectors, while sentiment deteriorated in selected services and trade.
Author: Ricardo Aceves, Senior Economist