Economic sentiment down 3.1pts, mainly in industry

(CIANEWS) - The aggregate indicator of confidence in the economy, expressed as a basic index, fell by 3.1 points m/m to 94.1 in May 2023, the Czech Statistical Office reported, adding that the business confidence indicator fell by 2.8 points to 95.2 and consumer sentiment fell by 4.4 points to 88.5. Confidence among entrepreneurs weakened significantly in industry (-8.2 points) and to a lesser extent in trade (-2.3). It was unchanged in construction and increased for the second consecutive year in selected services (+2.3). A large proportion of respondents in industry, particularly in the automotive sector, expect a decline in the rate of growth of manufacturing activity in the coming months. Households are significantly more concerned about a deterioration in the overall economic situation and their own financial situation. They rate the current financial situation better than in the previous twelve months.



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