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Financial News: Czech Economic Confidence, Consumer Morale Falls

Czech Economic Confidence, Consumer Morale Falls

12/27/2022 - 05:27:00 (RTTNews)

(RTTNews) - The economic and consumer confidence in the Czech Republic decreased slightly at the end of the year, following an improvement in November, survey results from the Czech Statistical Office showed on Tuesday.

The economic sentiment index dropped to 89.5 in December from 90.1 in November.

Among components, the business confidence index weakened to 92.5 in December from 93.0 in the previous month.

Meanwhile, the industrial sentiment index improved to 91.0 in December from 90.4 in the preceding month.

The measure of confidence in construction came in at 107.7, down notably from 115.6 in the prior month, and the morale for trade worsened to 92.7 from 99.0.

Data also showed that the consumer confidence index fell to 74.7 in December from 76.0 a month ago.

As compared to last month, households are less concerned about the overall economic situation. Yet they are unhappy with the current state of their finances.

"However, it can be positively assessed that extremely large fears about its further deterioration are beginning to gradually ease," said Silvie Vyplasilov√° from the CZSO's economic survey department.

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