Czech Republic: Economic sentiment plummets to over decade-low in April due to Covid-19 blow
The economic sentiment indicator, published by the Czech Statistical Office (CSO), plunged to 74.8 in April (March: 94.4) as Covid-19 took its toll, marking the sharpest monthly decline on record and the lowest reading since the 2009 global financial crisis.
The business confidence index plummeted from 93.1 in March to 73.8 in April, reflecting an across-the-board decline in sentiment across the surveyed sectors, with industry taking the strongest hit.
Similarly, consumer confidence soured dramatically, with the consumer confidence index nosediving from 100.5 in March to 80.1 in April, a near eight-year low. Households grew substantially more wary over the general economic situation, their financial situation and unemployment prospects in the year ahead. As a result, consumer confidence fell below its long-term average.