October 25, 2023
The composite confidence indicator (economic sentiment indicator) – in the basis index form – increased by 3.6 points to 92.8 m-o-m, with the same developments of its components. The business confidence indicator increased by 3.4 percentage points to 92.8 and the consumer confidence indicator increased by 4.4 points to 92.7.
Confidence among entrepreneurs increased in October due to significant growth in the industrial sector (+8.9 points). Confidence in the economy fell in other sectors, specifically in selected services by 1.3 points, in trade by 1.1 points and in construction by 0.6 points.
Consumer confidence in the economy increased. The number of respondents expecting a deterioration of the overall economic situation in the Czech Republic in the next twelve months decreased in October. The number of households assessing their current financial situation as worse compared to the previous twelve months remained approximately the same, but the number of respondents expecting it to worsen in the next twelve months decreased. The share of respondents who believe that the current time is not suitable for making large purchases has slightly decreased compared to September.
Source: Cezch Statistical Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
