Czech economic confidence improves in May

Analysis

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The Czech Republic's economic confidence improved in May, while consumer confidence decreased to the lowest in a decade, survey results from the Czech Statistical Office (CZSO) showed on Tuesday.

The economic sentiment index rose to 101.8 in May from 100 in April.

The business confidence index increased to 107.0 in May from 103.8 in the previous month.

The industrial sentiment index improved to 106.7 in May from 99.5 in the preceding month.

The measure of confidence in construction fell to 118.6 from 123.5 in the prior month, while that for trade rose to 103.3 from 100.8.

The consumer confidence index fell to 75.8 in May from 81.3 a month ago. It was the lowest reading since May of 2012, as the share of respondents expecting a deterioration in the overall economic situation for the next 12 months increased again and reached its all-time high, the statistics agency said.

Also, the current financial situation was assessed more negatively and the number of households that fear a deterioration in their own financial situation over the next twelve months has reached a new all-time high. At the same time, concerns about rising unemployment increased significantly. 

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