Czech economic confidence weakens to more than four-year low in April 2013.

By bne IntelliNews April 25, 2013

After rising for two straight months, the Czech economic sentiment indicator decreased in April 2013 to its lowest in more than four years as confidence among both businesses and consumers weakened, the statistics office said. The composite confidence indicator fell to 81.9 points in April from 84.4 the month before and was by 4.7 points lower from a year ago.

The business sentiment indicator declined to 82.7 points in the fourth month of 2013 from 85 points in March recording its weakest level since December 2009. The decline came as confidence improved only in the services sector, while companies in industry, construction and trade cut their expectations.

The consumer confidence index dropped from 81 points in March to 77.9 points in April but was by 5.6 points higher than in the same month of 2012. Consumers are more pessimistic about the general economic situation in the next 12 months than they were in March. The share of consumers expecting an increase in the unemployment was higher than in March, while of those planning to save money decreased, the statistics office said.

Related Articles

Czech president burns giant pants at bizarre press event

Czech President Milos Zeman shocked journalists invited to a press event on June 14 when he set a huge pair of red underpants on fire.  The pants are similar to those that the Ztohoven ... more

Czech Socialist Party favours forming a coalition government with Ano

Around 85% of the Czech Socialist Party (CSSD) members voted in a referendum to form a coalition government with the populist centrist party Ano ... more

Babis reappointed as Czech prime minister

Czech President Milos Zeman reappointed Ano leader Andrej Babis as prime minister on June 6, in a bid to fill the country’s lengthy political vacuum.  Babis has headed a minority government ... more