Czech Republic: Economic sentiment falls to year-and-a-half low in January
The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), dipped from 98.6 points in December to 98.0 in January, the lowest reading since July 2017. As a result, the indicator moved further below the 100-point mark that separates optimism from pessimism in the Czech economy.
The business confidence index declined from 96.4 in December to 95.7 in January, the weakest reading in over a year-and-a-half. The print reflected weaker sentiment in the industry, trade and services sectors, which more than offset the improvement in construction.
Meanwhile, consumers’ sentiment was unchanged in January, with the consumer confidence index remaining steady at December’s 109.2. Notably, consumers’ assessment over the unemployment situation deteriorated somewhat compared to December. That said, consumer confidence remains well above the historical average.