Czech Republic: Economic sentiment inches up in August but consumer confidence deteriorates
August 24, 2020
The economic sentiment indicator, published by the Czech Statistical Office (CSO), edged up to 87.0 in August (July: 86.7).
The business confidence index continued to rise in August, coming at 85.5, up from July’s 84.7 reading. The increase was driven by improving sentiment in the trade, construction and industrial sectors. Meanwhile, sentiment in the selected services sector turned more pessimistic.
In contrast, consumer confidence deteriorated in August, with the consumer confidence index sliding to 94.4 from 96.0 in July. The drop reflected consumers’ increased concerns regarding their financial situation and rising unemployment over the next 12 months.