Czech manufacturing conditions worsen in November, decline accelerates

Czech manufacturing continued its downturn in November, marking a decline since June 2022. The Purchasing Managers’ Index (PMI) fell to 46 points from October's 47.2, S&P Global agency reported. A PMI below 50 signals contraction in the sector. The sharper decline reflects a significant drop in new orders and production, driven by weak demand domestically and in key export markets. Sian Jones, Chief Economist at S&P Global Market Intelligence, highlighted structural issues in the automotive sector and challenges in German industry as key factors further hindering performance.