Czech Republic: Economic sentiment rises in June to reach over-three-year high
June 24, 2014
The economic sentiment indicator elaborated by the Czech Statistical Office (CSO) rose from 92.6 points in May to 93.6 points in June. The reading, which marked the highest level since February 2011, reflected better economic sentiment on the part of both businesses and consumers. The index, nonetheless, is still slightly below its 100-point long-term average.
June’s improvement in economic sentiment reflected that business confidence increased, particularly in firms in the construction and services sectors. Sentiment among businesses in the trade sector was virtually unchanged compared to the previous month, while businesses in the industrial sector were less upbeat.
Consumer confidence rose to the highest point in six years in June, which indicated that households are more optimistic about the overall economic situation in the next 12 months. Meanwhile, consumers’ views regarding their own financial standing and the evolution of the labor market did not change over the previous month.
Author: Ricardo Aceves, Senior Economist