Czech Manufacturing PMI Continues to Contract in December

Analysis

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The Czech Republic manufacturing Purchasing Managers' Index (PMI) increased to 42.6 in December from 41.6 in the previous month, pointing to the seventh straight month of contraction in manufacturing activity and one of the sharpest since mid-2009, survey data from S&P Global show.

The reading signaled a challenging end to 2022 in Czech manufacturing sector, as both output and new orders decreased following weak demand conditions and the impact of energy price hikes and inflation hit operations.

At the same time, purchasing activity declined for the seventh month running while employment fell strongly and at the steepest rate since August 2020.

Also, sentiment remained pessimistic and was at its second-lowest level since April 2020, as concerns regarding future demand and prices deepened. 

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