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Czech Republic Manufacturing PMI Slightly up in July

Manufacturing

Photo by Gorodenkoff / Shutterstock.com

The Czech Republic manufacturing PMI rose to 41.4 in July from 40.8 in June, pointing to the 14th consecutive month of falling manufacturing activity, survey data from S&P Global showed.

The latest figure signaled a further deterioration in the country's operating conditions, driven by a steep fall in new orders due to weak demand conditions. Output declined at the second-fastest pace since December 2022, as incoming new work dwindled.

Employment was reduced and backlogs of work dropped sharply. Meanwhile, disinflationary pressures persisted as input costs fell at the quickest rate since December 2008 and selling prices were cut for the third month running.

Finally, optimism remained subdued. Despite firms' expectations of a rise in output over the coming year, confidence was dampened by factors such as muted demand, lower investment, and higher wage costs.

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