Czech Republic: Manufacturing PMI falls in September
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell from 46.8 in August to 44.7 in September, marking the lowest value since May 2020. Consequently, the index moved further below the critical 50-threshold that separates an expansion from a contraction in manufacturing sector activity compared to the prior month.
September’s reading chiefly reflected sharper falls in output and new orders, amid contracting domestic and external demand. Meanwhile, backlogs of work decreased considerably as companies expanded their payroll numbers. On the price front, the pace of increase in input costs accelerated, and output charges continued to rise at a steep pace. Lastly, business sentiment fell into negative territory for the first time in over two years due to sustained economic uncertainty, soaring input costs and elevated inflation.