Czech Republic: Manufacturing PMI reaches 13-month high in June
June 1, 2015
In June, the manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC in collaboration with Markit, increased from May’s 55.5 to 56.9, the highest reading in over a year. As a result, the manufacturing PMI moved a bit further above the 50-threshold, where it has been since May 2013.
June’s improvement mainly reflects that output, new orders, exports, purchasing and employment grew at a faster pace than in May. Particularly, employment recorded a strong improvement, growing at the fastest rate in survey history. June’s survey also suggests that price pressures are increasing as input prices reached a 16-month high and output prices also rose.
HSBC/Markit commented that, “Czech goods producers ended the second quarter with a strong performance, with the PMI rising further from April’s 2015 low. With the Flash Eurozone PMI hitting a four-year high in June, the prospects for Q3 also look promising, subject of course to developments in Greece. Notably, employment at Czech manufacturers rose at the fastest pace in the survey history.”