Czech Republic PMI

Czech Republic

Czech Republic: Manufacturing PMI moderates in April; remains in expansionary territory

May 4, 2015

In April, the manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC in collaboration with Markit, decreased from March’s 56.1 to 54.7. Nevertheless, the manufacturing PMI still remains comfortably above the 50-threshold, where it has been since May 2013.

April’s moderation mainly reflects that output, new orders and employment grew at a slower pace than in the previous month. However, according to HSBC/Markit, “[t]hat said, all [...] components still made positive overall contributions to the PMI.” Conversely, new exports business recorded the largest gain in three months. Regarding price developments, input prices rose for a second consecutive month, reaching a 13-month high, and output charges registered the first increase in four months.

HSBC/Markit commented that, “[t]he PMI signalled a slight loss of momentum in April, but nonetheless remained in line with its strong trend level over the current two-year sequence of improving business conditions. The main activity indicators from the survey all continued to signal solid growth, while price pressures showed signs of building.”

FocusEconomics Consensus Forecast participants see fixed investment increasing 4.1% in 2015, which is unchanged from last month’s projection. For 2016, panelists expect fixed investment to expand 4.3%.


Author: Teresa Kersting, Economist

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Czech Republic PMI April 2015

Note: HSBC 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: HSBC and Markit.


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