In a significant upturn for the Czech economy, confidence levels reached a six-month peak this May, with the overall economic sentiment indicator climbing by 4.3 points to 101 points. The Czech Statistical Office (ČSÚ) reported improvements in both business and consumer confidence sectors, marking a recovery from April’s previous decline.
The business sector showed particularly strong gains, with overall confidence rising by 4.5 points to 101. The service sector led the charge with a remarkable 6.6-point increase to 106.9, while industrial confidence grew by 3.9 points to 94.2. Financial sector demand expectations and anticipated manufacturing growth were key drivers of this positive trend.
However, not all sectors shared this optimism. Construction and retail experienced slight setbacks, with confidence dropping by 1.7 and 1.8 points respectively.
Consumer confidence also showed promising signs, increasing by three points to 100.7. Households expressed reduced concerns about both the country’s economic outlook and their personal financial situations.
Year-over-year comparisons reveal a mixed picture, with overall economic confidence up 4.4 points. While business confidence rose by 5.4 points, consumer confidence saw a slight decline of 0.9 points.