Czech manufacturing PMI remained unchanged in June at 56.4 on a month-on-month term, a release from IHS Markit showed. The month signaled robust expansion of manufacturing.
The release pointed out that Czech manufacturing PMI was helped by a strong improvement in operating situations in the manufacturing sector. The overall expansion in June was fueled by solid output, as well as, fresh order expansions though higher rates increase slipped to five-month lows.
“The headline IHS Markit Czech Republic Manufacturing PMI is a composite single-figure measure of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. Any figure greater than 50.0 indicates overall improvement in the sector,” the official release added.
Czech witnessed a robust pace of growth of export orders in June. The increased demand for the country’s goods was the primary reason for the strongest growth after March. However, price pressures weakened as both input, as well as, output price inflation softened to the weakest rate until now in the current year.
Czech production advanced for the eleventh consecutive month in June. Panelists attributed it to increased demand and related volume growth of new orders.