Analysts: Mood in industry is positive despite decline in PMI

1. 8. 2017

(CIANEWS, August 1) The July Industrial Purchasing Managers’ Index (PMI) is still at a favorable level with 55.3 points despite the month-on-month decline, according to ING Bank’s chief economist for the Czech Republic, Jakub Seidler.

He added that this proves the conditions in the domestic manufacturing sector continue to improve. Generali Investments CEE’s chief economist Radomír Jáč pointed out that given the PMI across the Central European region, the second half of 2017 seems to indicate a slowdown in the growth rate of production and an overall activity in the manufacturing industry. Raiffeisenbank analyst Milan Frydrych said that despite the slight decline in the index, the producers remain positive, mainly due to the growing number of customers and a higher demand. For the Czech industry, the year-on-year growth rate is expected to be 4.7% compared to 2.9% in the previous year.