Czech Republic PMI July 2019

Czech Republic

Czech Republic: Manufacturing PMI falls to lowest level since May 2009

August 1, 2019

The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, tumbled from 45.9 in June to 43.1 in July, the worst reading in just over a decade. Consequently, the index lies further below the critical 50-point mark separating expansion from contraction in activity in the manufacturing sector.

July’s dip was driven by sharper falls in both output and new orders. Production declined at the fastest pace since May 2009 amid the ongoing weakness in the automobile sector, while new orders contracted sharply due to increased competition and subdued demand. Due to soft demand, manufacturers also cut their staff levels for the fifth month running. On the price front, both input cost and output charge inflation were marginal. Lastly, optimism among firms weakened.

FocusEconomics Consensus Forecast participants see fixed investment increasing Error! Not a valid link.% in 2019, which is unchanged from last month’s projection. For 2020, panelists expect fixed investment to expand 3.4%.

Author:, Economist

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Czech Republic PMI Chart

Czech Republic PMI July 2019

Note: IHS Markit Manufacturing Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: IHS Markit.

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