Czech Republic: Economic sentiment inches up from two-year low in April
The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), ticked up to 97.1 points in April from March’s two-year low of 97.0. As a result, the indicator moved marginally closer to the 100-point mark that separates optimism from pessimism in the Czech economy.
The business confidence index edged up from 95.5 in March to 95.8 in April. The print reflected higher confidence in the industrial sector more than offsetting weaker sentiment in the construction, trade and services sectors.
In contrast, consumers turned less optimistic in April, with the consumer confidence index sliding to 103.8, the lowest reading since July 2016 (March: 104.6). The decline was chiefly due to a deterioration of households’ assessment over the general economic situation in the next twelve months. That said, consumer confidence remains well above the historical average.