Confidence in Czech economy declines

Confidence in the Czech economy dropped by 0.5 points in December to 97.5, with both businesses and consumers more pessimistic, the Czech Statistical Office (ČSÚ) reported. Despite the decline, confidence remains higher than last year’s less than 94 points. Business confidence fell by 0.4 points to 96.9, driven by weaker demand and lower expected industrial output. Consumer confidence dropped 1.2 points to 100.4, reflecting growing concerns over the economy and reduced spending plans for 2025. Economists highlight sluggish foreign demand, especially from Germany, pressuring Czech firms to cut costs and delay investments.