The article creates a Composite Coincident Indicator (CCI) for the Czech economy to monitor its business cycle. It compares this new indicator with GDP and the Index of Industrial Production. By analyzing 127 economic indicators, the researchers selected the most suitable ones for the CCI using methods like the Hodrick-Prescott filter and cross-correlations. The study found that the CCI can provide valuable insights into the Czech economy's performance and can help predict future trends better than other traditional indicators.