TNBiz (TNBiz)
Macroeconomics  |  September 03, 2012 10:40:05

Markit: Czech manufacturing sector remained subdued in August, purchasing managers index fell to 48.7 points


PRAGUE (MEDIAFAX) - Manufacturing Purchasing Managers Index (PMI) for the Czech Republic in August, down from July's 49.5 to 48.7 points. On Wednesday, the company informed about Markit, which processes the index for HSBC, with the Czech manufacturing sector is in decline for the fifth month in a row.

The volume of new contracts, according to a survey by Markit decreased significantly, which led to the re-production of weakness and lower purchasing inputs. Firms also can pass through and reduce the price to pay. The already challenging market conditions became more difficult in the month to another increase in input prices.

Production declined markedly in August, two months before he was flat. The overall rate of decline was, however slight, since finishing unfinished business contract and thereby encourage production. Thanks to backlogs after the fifth month in a row dropped.

The main cause of the general deterioration of the business environment, the decline in the volume of new orders received. It has been five months is below the neutral threshold of fifty points and the last drop was the strongest since May. New export orders also weaken every month since last November. During the month, specifically weakened demand in the automotive industry.

Employment in the Czech manufacturing sector declined in August, ending a two-month period of growth. Firms also limited purchases of inputs, the volume has been declining five months in a row, and at the fastest pace since last November. Despite falling demand for inputs suppliers delivery times lengthened during August.

Manufacturers due to harsh competitive pressures for seven months in a row reduce prices of finished products, and even in August was no exception. According to a survey by Markit extra pace quickened considerably lower prices, and the highest level since April 2010.

Last month, the average price of inputs declined slightly, but in August it for them Czech manufacturers paid higher average prices. Some companies combine price pressures with higher oil prices, although in the context of the historical development of the survey remained the overall growth rate of input prices weak.

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 in July remained below the neutral threshold 50 points and confirmed the trend that we follow since April.

Jan Soukup, soukupj@mediafax.cz

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Markit: Český výrobní sektor zůstal v srpnu v útlumu, index nákupních manažerů klesl na 48,7 bodu

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