Manufacturing PMI falls to one year low
The Purchasing Managers’ Index (PMI) in the Czech Republic dropped to 54.9 points in August from 55.2 in July, according to financial services company Markit. Although the August figure is the lowest in a year, it still indicates improving conditions in the manufacturing industry, albeit at a slower pace.
According to Markit, the PMI drop stems from weaker growth in production and new orders. Inflationary pressures remain high, with input price growth the second-highest since the end of 2017, mainly due to higher raw material prices, especially steel, as well as exchange rate developments.
August’s value is below the average of the last year, but is still solidly above the 50-point base level, and still just slightly below the 4-year average.