Confidence in the Czech economy dropped further in May. The overall confidence indicator used by the Czech Statistical Office (ČSÚ) decreased by 1.6 points month-on-month. Trade increased, however, while construction, services and industry sunk even deeper. Consumer confidence decreased in May as well, both m-o-m and y-o-y. Consumers fear that both the general economic situation and their personal financial situation will deteriorate, according to ČSÚ. Businesses foresee slight slowdown in production and employment.
