Czech Republic: Manufacturing PMI inched up in October
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 42.0 in October from 41.7 in September. Consequently, the index remained entrenched below the critical 50-threshold that separates an expansion from a contraction in manufacturing sector business conditions compared to the prior month.
October’s reading chiefly reflected softer declines in output and new orders. Meanwhile, employment fell at the second-sharpest pace since mod-2020. On the price front, input prices decreased again amid muted demand, while output prices dropped for the sixth consecutive month and a the sharpest pace since June 2009. Lastly, business sentiment weakened to its lowest level so far in 2023 amid challenging demand conditions and order cancellations.