Czech Republic: Economic sentiment ticks up in November

The economic sentiment indicator, published by the Czech Statistical Office (CSO), rose to 90.1 in November from 89.8 in October.

Consumer sentiment increased in November, with the index rising to 76.0 from 71.9 in October, which marked the weakest reading on record. The drop reflected households’ diminishing concerns over the general economic situation and their own financial situation.

On the flip side, the business confidence index decreased to 93.0 from October’s 93.4. The result came on the back of weaker sentiment in all sectors barring construction.

FocusEconomics panelists expect private consumption to increase 1.4% in 2023, which is down 0.2 percentage points from last month’s projection. For 2024, they see consumer spending growth at 3.0%.