Czech Manufacturing PMI at Over 3-year Low

Manufacturing

Czech Republic manufacturing Purchasing Managers' Index (PMI) fell to 40.8 in June from 42.8 in the previous two month, survey data from S&P Global on Monday show.

This marked the 13th straight month of contraction and the sharpest since May 2020, as domestic and external demand conditions faltered.

Both output and new orders declined at the quickest pace in six months. At the same time, employment dropped to its lowest since July 2020 as backlogs of work were depleted at a steep rate.

Notably, input prices experienced its most substantial drop in 14 years.

Furthermore, efforts to maintain competitiveness and boost sales led to the steepest fall in selling prices since April 2016.

Finally, optimism was at its lowest in the current six-month sequence of positive sentiment, as expectations were dampened by inflation fears and concerns surrounding lower investment.

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