Economic confidence in the Czech Republic improved in September, with the overall confidence indicator rising by 3.3 points to 97.0. Both business and consumer confidence contributed to this increase. The business confidence indicator increased by 3.8 points to 96.8, while consumer confidence saw a smaller rise of 0.6 points, reaching 97.9.
All sectors surveyed showed greater business confidence in September, with the most significant rise seen in the service sector, where confidence grew by 5.1 points. Confidence in construction increased by 3.0 points, industry by 2.9 points, and trade by 1.3 points, reflecting positive developments across the board.
“Business confidence has increased in all sectors—a trend last observed in April 2023. The service sector, particularly the financial sector, played a key role in driving this increase,” said Jiří Obst, Head of the Economic Surveys Department at the Czech Statistical Office (ČSÚ).
Consumer confidence also improved slightly in September, with the indicator rising by 0.6 points to 97.9. The proportion of consumers who expect the overall economic situation in the Czech Republic to worsen over the next twelve months and those expecting an improvement in their financial situation remained largely unchanged from the previous month. Additionally, the number of households reporting a worsening financial situation compared to the past twelve months was stable compared to August. However, the percentage of consumers who consider the current period unsuitable for major purchases has decreased for the second consecutive year.
Anastasija Neradova, an expert from the Czech Statistical Office, remarked: “After four months of decline, consumer confidence recovered slightly in September. However, most of the observed indicators have remained stable, suggesting this is more of a correction of recent declines rather than a significant increase. Overall, consumer sentiment remains below its long-term average.”
