Confidence in Czech economy rises among businesses and consumers

Confidence in the Czech economy improved in October, growing by 2.1 points month on month to 104, according to the Czech Statistical Office. Business confidence increased by 1.8 points to 103.4, while consumer confidence rose by nearly four points to 107.4 — its highest level since February 2020. Analysts attribute the improvement to stronger optimism about households’ future financial situation and fewer fears of an overall downturn. However, business sentiment remains constrained by weak demand and a shortage of skilled workers, particularly in construction. Year on year, overall confidence in the economy is up by seven points.