The weakest Economic Sentiment this year

Although the Economic Sentiment Indicator bounced back in November in most of the CEE countries, the sentiment at the end of the year is very subdued. In fact, in the last two months, it has been at the lowest level throughout the year. The number of risks and uncertainties has increased over the last two months, including the rising probability of trade tariffs being introduced in the first place and in the course of 2025, which will likely affect business decisions at this moment. If we look across the sectors, the sentiment in the industry weakened in several CEE countries, not only in November, but also compared to the beginning of the year. The retail sector enjoyed slightly higher confidence in most of the region. All in all, the development of the market sentiment suggests a slowdown of economic activity at the end of the year, bringing more clouds over 2025 outlook as well.