The Czech manufacturing sector posted a 57.3-percent increase on the HSBC Purchasing Managers’ Index in May, up from 56.5 percent the previous month. This is the sector’s strongest performance since January 2011, with new orders rising for the 12th straight month, according to a report released by Markit Economics this week.
The “forward-looking components point to further output strength ahead,” Agata Urbanska-Giner, a CEE economist at HSBC, wrote in the PMI report. “We expect GDP growth to be picking up in the coming quarters in year-on-year terms and to be accompanied by a gradual increase of inflation.”
