Czechs Look Towards the Future with Slight Optimism 

The number of households expecting a worsening of their economic situation in the next year has fallen compared to June.


According to new data from the Czech Statistical Office, Czech citizens are expressing increased confidence in their economic situation, in contrast to the preceding concerns in 2022 and early 2023 regarding affordability and inflation. The most significant uplift is observed in the consumer confidence index. There has been a decrease in households anticipating economic downturn and currently facing financial difficulties. Future financial worries also saw a slight reduction in July. Surprisingly, anxieties about gas and energy costs, a significant concern last summer, are lower this year. This is potentially due to the historic low consumer confidence in 2022, prompted by geopolitical turbulence and soaring energy prices. Jiří Obst, head of the Business Cycle Surveys Unit, pointed out that while there were no direct questions about government or presidential confidence, people’s economic expectations indirectly reveal their opinion of governmental performance. 

Source: english.radio.cz

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