Czech Republic: Economic sentiment moderates from June's nearly-seven-year high in July
July 24, 2015
The economic sentiment indicator published by the Czech Statistics Office (CSO) receded from June’s 97.0 points, which had marked the highest reading in nearly seven years, to 96.1 points in July. The setback reflects moderations in both business sentiment and consumer confidence. As a result, the index moved slightly farther below its 100-point long-term average.
Business sentiment inched down from June’s 95.5 points to 94.6 points in July. The decrease was driven by weakening confidence in the construction, services and trade sectors. Conversely, sentiment in the industry sector rose slightly in July.
Consumer confidence decreased from June’s 104.3 points to 103.6 points in July, mainly reflecting that consumers’ assessment of the overall economic situation worsened somewhat. In addition, they were slightly more worried about price increases than in June. Meanwhile, consumers’ expectations of their own financial situation and the development of unemployment were almost unchanged compared to the previous month.