Czech Republic: Manufacturing PMI improves in November
October 1, 2014
The manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC in collaboration with Markit, rose to 55.6 in November, which was up from the 54.4 recorded in October. The manufacturing PMI has hovered above the 50-threshold since May 2013, indicating strong growth in the manufacturing sector.
November’s result came on the back of a faster growth rate of new orders as well as employment. However, manufacturing output slightly deteriorated in November. HSBC/Markit pointed out that, “on balance the PMI survey continues to show expansion in manufacturing despite more volatile business confidence data from Germany. […] We assume a continuation of the current policy mix—fiscal loosening matched by stable, accommodative monetary policy—will support GDP growth at 2.5%+ in 2015.”
Author: Dirina Mançellari, Senior Economist