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Russian economic confidence falls to lowest level in two decades as war fatigue deepens
3 hours ago
The Czech manufacturing PMI index compiled monthly by the market intelligence company S&P Global Market Intelligence posted 53.9 in June (chart), the best result since April 2022.
It is also up on the 52.2 posted in May, when it worsened slightly month-on-month, while PMI has remained on or above the 50 point mark separating growth and decline since February.
"June PMI data signalled a sharper upturn in the Czech manufacturing sector, as greater output and a steeper rise in new orders supported growth,” commented Siân Jones, principal economist at S&P Global.
She added that “although some of the positive impact was attributed to customer stockpiling, other panellists mentioned stronger demand conditions” and that "pressure on capacity remained stark, however, as supplier delays continued to hamper operations and drive-up backlogs.”
Czech manufactures reported a rise on the demand side at home and abroad and easing of inflationary pressures while business confidence slightly weakened compared to May.
New order growth “was the quickest since February 2022”, S&P wrote, adding that “the rate of increase in international orders was solid and the sharpest since the opening month of 2022.”
Despite easing inflation remains elevated, and S&P’s panellists pointed to “higher transportation, freight, energy, fuel and material costs” behind the rise.
Selling price inflation also eased compared to May’s spike amid milder growth of output charges.
Continued job shedding figures seen across the past five months stabilised in June. Occasional staff increases were recorded, which “was attributed to greater new order intakes”.
Continued supply disruptions attributed to the war in the Middle East were reported despite improvements in the past three months.
Despite dropping compared to May, business confidence remained elevated in anticipation of greater stability on international markets.
"Price strains remained a key concern for manufacturers though,” Jones concluded, adding that “the latest S&P Global Market Intelligence forecast expects consumer price inflation (CPI) to rise to 2.5% in 2026 as higher costs are passed through to customers."
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