Czech economic confidence weakest since July 1999

Analysis

Photo by FS Stock / Shutterstock.com

The Czech Republic’s economic confidence weakened to the lowest level in nearly 21 years in April, survey results from the Czech Statistical Office (CZSO) show. 

Photo by FS Stock / Shutterstock.com

The economic sentiment index fell to 74.8 in April from 94.4 in March. The latest reading was the weakest since July 1999, when it was 74.6.

The business confidence index decreased to 73.8 in April from 93.1 in the previous month. The industrial sentiment index fell to 72 in April from 88.6 in the preceding month.

According to businessmen surveyed, the situation around the coronavirus and government measures had an impact on their business activity, the agency said.

The measure of confidence in construction declined to 107.3 in April from 119 in the month  prior, while that in trade fell to 85.4 from 99.8. Consumer confidence fell to 80.1 from 100.5 a month ago. This was the weakest reading since January 2013, CZSO said on April 24.

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