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Financial News: Czech Factory Growth Strongest Since Feb 2011

Czech Factory Growth Strongest Since Feb 2011

01/02/2018 - 04:27:00 (RTTNews)

(RTTNews) - Czech manufacturing activity expanded at the sharpest pace in nearly seven years in December, survey data from IHS Markit showed Tuesday.

The Purchasing Managers' Index, or PMI, rose to 59.8 in December from 58.7 in November. Any reading above 50 indicates expansion in the sector.

The growth was supported by robust upturns in production and new orders, which showed the strongest increases since April and January 2011, respectively.

Job creation accelerated in December and was steep overall as firms made efforts to expand capacity.

Overall business confidence rose and reached an eight-month high.

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