Czech Manufacturing PMI Lowest Since May 2020
The Czech Republic’s manufacturing sector deteriorated at the steepest pace in more than two years in September, as output and new orders fell at faster rates amid weaker demand conditions, survey data from S&P Global showed on Monday.
The purchasing managers’ index, or PMI, for the manufacturing sector fell to a 28-month low of 44.7 in September from 46.8 in August. Any reading below 50 indicates contraction in the sector.
Both output and new orders declined at the steepest pace in more than two years in September.
Lower production levels were due to subdued client demand and a further reduction in new orders.
The weaker new orders were linked to the impact of inflation and economic uncertainty on customer spending.
On the price front, input prices rose substantially in September, led by further upticks in energy, material and transportation expenses. As a result, selling prices also grew sharply.
At the same time, employment levels logged a renewed rise in September, and the job creation stemmed from efforts to clear backlogs of work and fill long-held vacancies.
Looking ahead, output expectations sentiment dropped into negative territory for the first time in over two years.
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