Czech Republic: Economic sentiment improves slightly in August on more optimistic businesses
August 25, 2014
In August, the economic sentiment indicator published by the Czech Statistics Office (CSO) inched up from 93.0 points in July to 93.4 points. August’s improvement resulted from businesses being more optimistic, while consumer confidence was lower compared to the previous month.
According to the CSO, the improvement in business sentiment was felt particularly in firms in the construction and services sectors. Sentiment among businesses in the industry sector increased slightly compared to the previous month, while businesses in trade were more pessimistic.
Consumer confidence index fell for the first time in seven months and reached its lowest level since March. According to the survey, consumers in August were more worried about an increase in the unemployment rate, compared to July. In addition, their views regarding the country’s economic situation for the next 12 months were more pessimistic compared to the previous month. In contrast, consumers’ feelings about their own financial standing were unchanged.
Author: Dirina Mançellari, Senior Economist