The Czech Statistical Office released data yesterday which points to a continued lowering of confidence in the economy in almost all sectors. The least confident in November were businesses as their rating dipped by a full tenth of a point to 91.5. That was the lowest reading in well over five years. Within business, the industrial production companies were the most pessimistic with a rating falling to 86.9 points, the lowest since 2013.
Out of all the categories only retail was still feeling positive, riding the wave into the Christmas season. The reading for November was 102, falling from October, and up gainst a five year low. Retailers expect a good Christmas but consumers reported worries about news from around the globe pointing to many potential problems and issues, reported Chief Economist at ING Jakub Seidler.
Investment into production does not look promising as Veronika Ptackova, from the Czech Statistical Office, stated that she estimates investment into this sector will be down 1% overall in 2020 and will focus mainly on improving current tooling and adding new technology.
Similar news globally over the past months has not stopped stock markets, in general, from buzzing at or near new all-time highs on Monday.