Czech Economic Confidence Down in October

Analysis

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The Czech economic confidence weakened further in October and consumer confidence showed a record low in October, according to survey results from the Czech Statistical Office (CZSO) published on Monday.

The economic sentiment index decreased to 89.8 in October from 90.1 in September.

The business confidence index declined to 93.4 in October from 93.6 in the previous month.

The industrial sentiment index fell to 91.4 in October from 93.6 in September.

Meanwhile, the measure of confidence in services increased to 92.9 from 92. The measure of confidence in construction weakened to 110.2 from 111.4, while that for trade rose to 99.3 from 2.7.

Consumer confidence worsened further to hit a record low 71.9 in October from 72.7 a month ago.

Respondents are still significantly worried about the deterioration of the overall economic and financial situation, and unemployment fears have increased, the statistical office said. 

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