Mediafax (Mediafax)
Macroeconomics  |  October 01, 2012 11:20:05

Markit: Czech manufacturing sector continues to decline


PRAGUE (MEDIAFAX) - The decline in the Czech manufacturing sector during September deepened, purchasing managers index (PMI) fell to 48 points. Under neutral boundary PMI remained 50 points for the sixth month in a row, reported on Monday by Markit.

The production cuts during the month should influence further reduce the volume of new orders. They have been falling for six months in a row, although the pace of reduction in volume after the July and August acceleration stabilized. Data suggest that the volume of new export orders declined more slowly than the total volume of new orders, which suggests weakness domestic market. New export orders but forfeited already 11 months behind.

Employment in the manufacturing sector declined in September for the second month in a row. Over the last 11 months in the manufacturing sector whilst passing eight times, albeit at a moderate pace. Firms also recently reduced shopping activity, leading to further reductions in their stocks of raw materials and other inputs. Decreased and stocks of finished products, because demand sufficient to cover existing stocks. Inventories of inputs and outputs and overall have been falling for 14 months.

Price pressures escalated in September. The rate of increase in input prices increased significantly, and at a higher level than the long term average of the survey. Companies according to survey results indicated that during the month, prices of oil and plastic and agricultural products.

Against the prices charged by Czech manufacturers continued to decline in September, and after the eighth month in a row, but the rate of decline was the lowest since June.

Main Manufacturing PMI HSBC Czech Republic is a composite single indicator of overall performance in the manufacturing sector, which tracks changes in the volume of new orders, production, employment, suppliers' delivery times and stocks. PMI declined in September even further below the neutral threshold 50 points and confirmed its downward trend, which can be traced back to April.

Jan Soukup, soukupj@mediafax.cz

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