Czech Republic: Economic sentiment jumps in July
July 24, 2020
The economic sentiment indicator, published by the Czech Statistical Office (CSO), continued to rise from April’s over two-decade low in July, coming in at 86.7 (June: 77.2).
The business confidence index climbed to 84.7 in July from 73.8 in June. The increase was mainly driven by improving sentiment in the services, construction and industrial sectors, with the latter posting a record monthly rise. Meanwhile, sentiment in the trade sector turned more pessimistic.
Similarly, consumer confidence strengthened again in July, with the consumer confidence index jumping to 96.0 in July from 93.3 in June. Notably, households turned less concerned over a deterioration of the overall economic situation. Despite the improvement, however, consumer confidence remained well below its long-term average.
Author: Javier Colato, Economist