Czech Republic: Manufacturing PMI rebounds in July
August 1, 2014
The manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC in collaboration with Markit, rose to 56.5 in July. The result bounced back from the 54.7 registered in June, which had marked the lowest level in six months. The manufacturing PMI has hovered above the 50-threshold since May 2013, indicating strong growth in the manufacturing sector.
According to HSBC, “[h]aving seen a moderation in growth of many key indicators in June, the latest data signalled a rebound in momentum.” July’s result showed that output, new orders, exports, employment, backlogs and purchasing all rose at faster rates than the previous month. HSBC concluded that, “the July Czech PMI survey is very positive, in contrast to the downturn signaled in Poland. The data showed that after a decline in June, the manufacturing PMI rebounded in July to the joint-second highest reading this year.”
Author: Ricardo Aceves, Senior Economist