Czech Republic: Economic sentiment reaches highest level in over six years
December 29, 2014
In December, the economic sentiment indicator published by the Czech Statistics Office (CSO) inched up to 96.5 points from 95.2 points in November. The figure marked the highest level since August 2008. December’s increase resulted from an improvement in both consumers’ and businesses’ confidence. However, despite the rise, the index remains below its 100-points long-term average.
Business sentiment inched up from 93.5 points in November to 94.8 points in December and now sits at its highest level since February 2011. According to the CSO, the improvement in business sentiment was felt in all sectors. Trade and construction recorded the biggest increases compared to the previous month.
The consumer confidence index rose from 103.6 points in November to 105.1 points in December, which recorded the highest level since March 2007. According to the survey, consumers in December were less afraid of a deterioration in the overall economic situation compared to the previous months. However, their concern about their own financial standing was unchanged over November.
Author: Dirina Mançellari, Senior Economist