Czech Republic PMI

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Czech Republic: Manufacturing PMI reaches six-month high in January

February 2, 2015

In January, the manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC in collaboration with Markit, recovered the ground lost in the previous month as it rose from 53.3 in December to 56.1. The print represents the best result since July 2014. As a consequence, the manufacturing PMI moved further above the 50-threshold, where it has been since May 2013.

January’s improvement in manufacturing business conditions was broad-based. According to HSBC, stronger demand and lower input prices largely contributed to the result. In addition, new orders, exports and employment grew at faster rates than in December. HSBC/Markit commented that the, “January manufacturing PMI marks a strong start to the year,” and that it, “supports the current CNB rhetoric of robust growth outlook outweighing short-term positive supply side shock. Still it also confirms deflationary risks in the near-term.”

FocusEconomics Consensus Forecast participants see fixed investment increasing 4.0% in 2015, which is up 0.1 percentage points 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 Chart

Czech Republic PMI January 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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