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Czech Republic PMI August 2023

Czech Republic: Manufacturing PMI rises in August

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 42.9 in August from 41.4 in July. Consequently, the index remained entrenched below the critical 50-threshold that separates an expansion from a contraction in manufacturing sector business conditions compared to the prior month.

August’s reading chiefly reflected somewhat softer albeit still-marked declines in output and new orders. Meanwhile, backlogs fell at a stronger pace, while companies reduced their payroll numbers for the eleventh consecutive month. On the price front, input prices decreased amid greater availability of raw materials and declining global demand for inputs, while output prices dropped for the fourth consecutive month. Lastly, business sentiment improved amid hopes of recovering client demand and product diversification.

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