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Czech economic confidence slips in December /27. 12. 2011/
Czech economic confidence slipped again in December. And if many will be happy to see the back of 2011, 2012 is not a very bright prospect either. Czech confidence fell across the board in all sectors of the economy and among consumers in December, the Czech Statistical Office (ČSÚ) reported on Tuesday.
The overall index of economic confidence, combining both business and consumer confidence, fell 1.9 points in December compared with November. The index of business confidence dropped 2.2 points and the consumer index by 0.8 point. The composite economic index is now 12.5 points lower than in December 2010, though is still higher than in the depths of the 2009 and 2008 recession. Business confidence has fallen 10.5 points over the last year and consumer confidence by 20.5 points.
“The survey taken among consumers in December indicates that consumers are for the next twelve months even more afraid of a decrease in the overall economic situation,” the office commented. “The share of respondents expecting rises in unemployment increased slightly in December. Percentage of respondents intending to save money decreased slightly; less than a half of households still state that concerning their current financial situation, they save money, ” it added.
Business and consumer confidence has fallen steadily throughout the year with the notable exception of a jump in optimism among both sectors in October, followed by a sharp drop in the following month.
Source: Czechposition.com, 27.12.2011. Full article can be found here.
