Business optimism lifts confidence in Czech economy

Confidence in the Czech economy rose slightly in February, driven mainly by growing optimism among businesses, the Czech Statistical Office said. The overall confidence indicator increased by 0.9 points month on month to 101.1, following three months of stagnation or decline. Compared to February last year, confidence was up by 3.3 points. Business confidence rose by 1.2 points to 99.8, supported especially by stronger expectations in industry and construction. Consumer confidence, however, fell for the third consecutive month, slipping by 0.6 points to 107.6. Households expressed greater concern about their financial situation over the next year, despite slightly improved views of the broader economy.