Report published September 1, 2026
Goldman Sachs: CEE Aggregate PMI Rises Slightly, CAI Broadly Stable (August 2026)
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 1, 2026
- Analysis as of
- Not stated in source
Authors / editors: Kevin Daly, Alberto Dario Zanettin (Intern in the CEEMEA economics team), Johan Allen
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
The average headline manufacturing PMI for CEE-3 rose to 51.2 in August from 50.9 in July, led by a four-year high in Czechia (54.1) against a contraction in Poland (48.3). Aggregate economic activity measured by the CAI remained broadly steady at +3.2% mom annualized amid further declines in input and output price components.
Key Takeaways
- 1.CEE-3 headline manufacturing PMI improved slightly in August to 51.2 from 50.9 in July, though country-level divergences widened.
- 2.Czechia's PMI rose to a four-year high of 54.1, while Poland fell into contraction at 48.3 and Hungary held steady at 51.3.
- 3.Price pressures in the PMI surveys continued to ease sharply, with Czech output price PMIs falling below pre-Iran-war levels.
Table of Contents
- CEE: Aggregate PMI Rises Slightly, CAI Broadly Stable
- Disclosure Appendix
- Reg AC
- Disclosures
- Global product; distributing entities
- General disclosures
Report data
Exhibit 1: Aggregate PMI Slightly Improved, While Aggregate CAI Remained Broadly Unchanged
| Metric | Estimate | Context |
|---|---|---|
| CEE-3 Headline Manufacturing PMI | 51.2 index points | Average headline manufacturing PMI across CEE-3 |
| Czechia Manufacturing PMI | 54.1 index points | Highest print in over four years |
| Poland Manufacturing PMI | 48.3 index points | Fell back into contraction territory below 50 |
| Hungary Manufacturing PMI | 51.3 index points | Remained broadly stable above 50 |
| CEE-3 Current Activity Indicator (CAI) | +3.2% % mom annualized | Arithmetic average across CEE-3 |
Reports in this series
CEE: Aggregate PMI Rises Slightly, CAI Broadly Stable is shown in chronological order through this edition, published on September 1, 2026.
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- CEE-3 Headline Manufacturing PMI: 51.2 index points (August 2026) · Source: Goldman Sachs Global Investment Research, Haver Analytics
- Czechia Manufacturing PMI: 54.1 index points (August 2026) · Source: Haver Analytics, Goldman Sachs Global Investment Research, Markit
- Poland Manufacturing PMI: 48.3 index points (August 2026) · Source: Haver Analytics, Goldman Sachs Global Investment Research, Markit
- Hungary Manufacturing PMI: 51.3 index points (August 2026) · Source: Haver Analytics, Goldman Sachs Global Investment Research, Markit
- CEE-3 Current Activity Indicator (CAI): +3.2% % mom annualized (August 2026) · Source: Goldman Sachs Global Investment Research
Themes
Regions
Related Reports
Australia: Consumer Sentiment: Sentiment Declines 5.2% MoM in September
September 8, 2026
Japan: Q2 GDP Revised Up Slightly to +1.4% QoQ Annualized, Mainly on Capex
September 8, 2026
Whirlpool Corp.: Appliances - Labor Day 2026 Pricing Update
September 8, 2026
US Tariff Impact Tracker: Indicated Imports into LA to Increase Next Week Before Turning Negative Two Weeks Out
September 8, 2026
Pulp & Paper: Some Hardwood Momentum Building Into 4Q
September 8, 2026