Czech Republic PMI February 2021

Czech Republic

Czech Republic: Manufacturing PMI signals strongest improvement operating conditions in over three years in March

April 1, 2021

The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, came in at 58.0 in March, up from February’s 56.5 and marking the highest reading since February 2018. Therefore, the index moved further above the critical 50-threshold separating improvement from deterioration in the health of the manufacturing sector.

March’s print largely reflected more pronounced expansions in new orders and production on the back of stronger client demand despite protracted Covid-19 associated restrictions. Moreover, employment grew at the fastest pace in three years due to mounting pressures on capacity as supply chain disruptions intensified. Product shortages and longer delivery times in turn led to the quickest input cost inflation on record, driving output charges up at the strongest pace since early 2008. Lastly, business sentiment remained upbeat amid hopes of an end to the pandemic and looser containment measures.

Commenting on the release, Sian Jones, economist at HIS Markit, stated:

“We currently forecast that industrial production will rise 7.6% in 2021, but much remains uncertain amid rising COVID-19 cases in the country."

Commenting on the release, Sian Jones, economist at HIS Markit, stated:

“We currently forecast that industrial production will rise 7.6% in 2021, but much remains uncertain amid rising COVID-19 cases in the country."

FocusEconomics Consensus Forecast participants see fixed investment growing 3.6% in 2021, which is down 0.7 percentage points from last month’s projection, and expanding 6.1% in 2022.


Author: Massimo Bassetti, Senior Economist

Sample Report

Looking for forecasts related to PMI in Czech Republic? Download a sample report now.

Download

Czech Republic PMI Chart


Czech Republic PMI March 2021

Note: IHS Markit Manufacturing Purchasing Managers’ Index (PMI). A reading above 50 indicates an improvement in operating conditions while a value below 50 points to a deterioration.
Source: IHS Markit.


Czech Republic Economic News

More news

Search form