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Czech economy improves slightly in January

Figures

Photo by Karel Pesorna/Shutterstock.com

Confidence in the Czech economy increased in January for the first time in six months, according to new data from the Czech Statistics Office (CZSO), released on Monday.

Both business people and consumers reported having more confidence in the economy than in December.

In a year-on-year comparison, business leaders' confidence was higher but that of consumers fell. The business confidence indicator increased by 2.3 points to 98.8 in January, from an upwardly revised 96.5 in December. Sentiment improved among constructors (124.3 vs 114.4 in December), manufacturers (97.6 vs 93.9) and service providers (96.5 vs 95.8).

Meanwhile, confidence decreased for traders (105 vs 106.2). The consumer confidence indicator rose to 91.4 in January from a downwardly revised 91.2 in the previous month. Respondents assessed their current financial situation better than in the previous twelve months and intentions to spend more money on large purchases increased.

At the same time, concerns about rising unemployment decreased slightly. 

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