Czech business confidence rises in August, consumer confidence drops

Confidence in the Czech economy rose month-on-month in August by 1.4 points to 101.1, the Czech Statistics Office reported. Business confidence increased by 2.7 points to 101.5, while consumer confidence fell by 5.1 points to 99.

According to the Office, the improvement in business confidence was driven mainly by selected service industries, where expected demand rose significantly, particularly in the financial sector. The services confidence indicator has now reached its highest level since April 2008.