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Czech Statistical Office: Confidence in Czech economy rises /25. 10. 2011/
Overall confidence in the Czech economy improved in October after deteriorating for three straight months, with the seasonally adjusted economic confidence index rose reaching 4.5, the Czech Statistical Office (ČSÚ) said Monday.
“Overall confidence in domestic economy improved month on month (m/m) in October after drops in previous months,” the ČSÚ said. “The composite confidence indicator (economic sentiment indicator) increased by 3.2 points compared to September [1.3], due to an increase in the confidence of both entrepreneurs and consumer.” In August, the index stood 3.7 and in July at 5.
The business confidence index, which measures sentiment among entrepreneurs, rose to 10.9 in October from 7.6 in the previous month. “Confidence increased in industry, trade, and in selected services; in construction it increased slightly and remains very low. The confidence of entrepreneurs is 0.1 point up year on year,” the statistical office said.
The consumer confidence indicator increased by 2.7 points compared to September but remains 0.3 points down compared to October 2010. “The survey taken among consumers in October indicates that consumers are for the next twelve months slightly less afraid of a decrease in the overall economic situation as well as of their own financial standing,” the ČSÚ said.
“The share of respondents expecting rises in unemployment decreased a bit in October. Percentage of respondents planning to save money increased slightly. Respondents are still afraid of rises in prices,” it said.
Source: Czechposition.com, 24.10.2011. Full article can be found here.
