Confidence in the Czech economy rose in December after 2-month decline

Confidence in the Czech economy rose by 5.9 points to 87.9 points in December after a two-month decline, the Czech Statistical Office data show. However, the survey was conducted from December 1-17, when anti-pandemic measures were easing. Compared to last December, the aggregate confidence index is more than 11 points lower.

When the December data was collected, the currently restrictive anti-coronavirus measures were being relaxed, and there were also positive reports on the availability of vaccines, said Jiří Obst, who led the survey.

The business confidence index rose by 5.4 points to 87.1 points in December. In industry, it dropped 5 points to 92.8 points, in construction by about 3 points to 111.6 points, and in trade by about 1 point to 93.2 points. After a sharp decline in the previous two months, confidence also grew in the services sector, which was hit hard by measures in the second wave of the pandemic. It increased by almost 7 points to 78 points.