Czech Republic: Economic sentiment stable at highest level in over three years
May 27, 2014
In May, the economic sentiment indicator published by the Czech Statistical Office (CSO) stabilized at the 92.6 points recorded in April, which had marked the highest level since March 2011. The reading mainly reflected virtually unchanged readings in sentiment among Czech businesses and consumers. The index remains slightly below its 100-point long-term average.
In May, consumer confidence was virtually unchanged compared to April. Consumers’ views regarding the country’s overall economic situation for the next 12 months held steady. Moreover, respondents to the May survey did not change their opinions on their future financial situations and the outlook on the labor market.
Meanwhile, business confidence also stabilized in May. The reading reflected that greater confidence in industry offset lower sentiment in selected services. Business sentiment in trade and in construction was unchanged over the previous month.
Author: Ricardo Aceves, Senior Economist