The business confidence indicator fell by 4.8 points to 81.7. At the same time, confidence in the economy among entrepreneurs has declined in all sectors.
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“We recorded the most significant decline in selected services and trade, ie in the sectors directly affected by anti-epidemic measures,” said Jiří Obst, head of the CZSO business cycle research department.
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In services, confidence in the economy fell by another six points to 71.2. The assessment of the economic situation decreased, the number of respondents in services who negatively assess current demand increased. The share of entrepreneurs in services who expect improvement in the coming months has also fallen sharply.
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In trade, confidence fell by 5.7 points to 92.1. Even in this sector, the number of entrepreneurs who believe in improvement in the coming months is declining.
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Consumer confidence in the economy then fell by 2.9 points to 83.1. “Compared to October, the outlook for future economic development or their own financial situation has not changed much for households,” said Jakub Seidler, chief economist at ING Bank.
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“But their willingness to save has declined and their fears of rising unemployment have further increased. They are now higher than in April and at a similar level as they were during the global financial crisis, “added the economist.
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Statistics for the business cycle survey were collected by statisticians from 1 to 18 November. Gradually, there may have been a stir around the PES system, which in the first phase further tightened the existing restrictive measures.
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