Czech Republic: Economic sentiment rises slightly in December but remains considerably low
December 27, 2012
The economic sentiment index published by the Czech Statistical Office inched up to 83.1 points in December from 82.2 points recorded in November, which had represented the lowest level recorded in two years. Despite the monthly improvement, the index remains 1.9 points below the level recorded in December 2011.
The monthly increase reflected an improvement in the business confidence sub-indicator, which was particularly felt in the construction, trade and industry sectors. Business sentiment in the services sector remained unchanged compared to the previous month.
In addition, the consumer confidence sub-indicator rose for a second consecutive month in December. The higher print reflected consumers' less pessimistic view about the general economic situation in the next 12 months. Meanwhile, consumers' assessment of their own financial standing as well as regarding unemployment developments remained unchanged compared to the previous month.
Author: Ricardo Aceves, Senior Economist