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Czech manufacturing decline slows in June

Manufacturing

Image by Pixabay

The Czech Republic’s manufacturing sector deteriorated at a softer pace in June after the lockdown restrictions linked to the coronavirus pandemic were eased, survey data from IHS Markit showed on Wednesday.

Image by Pixabay

The headline manufacturing Purchasing Managers’ Index (PMI) rose to 44.9 in June from 39.6 in May.

The rate of contraction was the slowest since February. The backlogs of work declined at the steepest rate in June and new orders fell at the sharpest pace. Domestic and foreign client demand decreased continuously in June. Client demand declined and the number of labors were reduced.

Business confidence increased in June, and despite reaching a four-month high, the degree of positive sentiment remained subdued. On the price front, input price inflation increased slightly in June, while selling prices declined at a faster pace.

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