TNBiz (TNBiz)
Macroeconomics  |  October 31, 2012 13:30:05

Markit: Descent of the Czech manufacturing sector grew


PRAGUE (MEDIAFAX) - The manufacturing sector of the Czech Republic continues to decline, purchasing managers index (PMI) fell in October from September 48 to 47.2 points. Not only PMI remained below the neutral threshold 50 points for the seventh month in a row, it is also the result of the lowest in 38 months on Wednesday informed the company Markit.

For the October decline was primarily the main index slump in new orders received by Czech manufacturers. Markit's data suggests a sharp decline in both the domestic market and export markets. New orders exporters forfeited continuously since November 2011. According to the manufacturers may decline again in the last crisis, particularly in European markets.

During the month of insight manufacturers to lower production requirements and letting reduce supplies of inputs. Employment in manufacturing fell for the third month in succession, and at the fastest pace since February. Purchasing activity, according to the survey results, fell for the eleventh time in the last 12 months, also the fastest pace in more than three years.

The October, according to Markit data also shows a further significant increase in average input prices, which had declined slightly in July. The rate of increase in input prices has remained weakened in September, higher than the long-term average of the survey. Firms reported that prices pushed up mainly food, fuel, leather, metals, as well as packaging materials. In contrast, prices charged for finished products are decreased for nine months in a row under the pressure of intense competition, combined with weak demand.

The 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 decreased in October even deeper 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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