Czech Republic: Manufacturing PMI reaches lowest level in over a year
January 2, 2015
The manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC in collaboration with Markit, fell from 55.6 in November to 53.3 in December, which marked the lowest level since July 2013. Despite the drop, the manufacturing PMI remains above the 50-threshold, where it has been since May 2013.
December’s result came on the back of decreases in the indices of output, new orders, employment and stock of purchases. According to HSBC/Markit, the PMI index averaged 54.4 in the fourth quarter, which marked the lowest level in a year. HSBC/Markit added that, "the better than expected flash reading of the German PMI in December is some consolation. But 2015 is shaping up as a challenging year with growth vulnerable to weak external demand.”
Author: Dirina Mançellari, Senior Economist