Financial News: Czech Manufacturing Downturn Softens In October

Czech Manufacturing Downturn Softens In October

11/01/2024 - 07:38:00 (RTTNews)

(RTTNews) - The Czech Republic's manufacturing downturn eased in October due to softer falls in both output and new orders, survey data from S&P Global showed on Friday.

The purchasing managers' index, or PMI, for the manufacturing sector rose to 47.2 in October from 46.0 in September. However, any reading below 50 indicates contraction in the sector.

Both output and new orders contracted at some of the softest rates for nearly two-and-a-half years amid tentative signs of reduced client hesitancy in some industries despite further subdued demand conditions. Firms continued to reduce their workforce numbers, but the pace of job shedding eased notably.

Foreign demand was also weaker as export orders decreased at a sharper rate due to a challenging economic environment.

On the price front, input price inflation accelerated in October, linked to higher energy, food, and material prices. Goods producers were forced to reduce selling prices amidst sluggish demand and competitive pressures.

Looking ahead, manufacturers remained less upbeat about output expectations over the next year, with the degree of optimism dropping to the lowest in nine months amid concerns regarding demand in the automotive sector and sustained contractions in new orders.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Manufacturing Index Unexpectedly Dips To Lowest Level In Over A Year (10 min(s), 28 sec(s) ago)
(RTTNews) - A report released by the Institute for Supply Management on Friday showed U.S. manufac ...Full Story»

Brazil Manufacturing Growth Remains Robust In October (52 min(s), 28 sec(s) ago)
(RTTNews) - The Brazilian manufacturing sector showed a further strong expansion in October on the ...Full Story»

U.S. Employment Inches Up By 12,000 Jobs In October, Far Less Than Expected (01 hr(s), 06 min(s), 28 sec(s) ago)
(RTTNews) - With increases in healthcare and government jobs partly offset by decreases in tempora ...Full Story»

U.S. Employment Inches Up Far Less Than Expected In October (01 hr(s), 55 min(s), 28 sec(s) ago)
(RTTNews) - With increases in healthcare and government jobs partly offset by decreases in tempora ...Full Story»

Turkish Manufacturing Activity Remains In Contraction (01 hr(s), 58 min(s), 28 sec(s) ago)
(RTTNews) - The manufacturing activity in Turkey continued to deteriorate in October, although rat ...Full Story»

Czech Manufacturing Downturn Softens In October (02 hr(s), 53 min(s), 28 sec(s) ago)
(RTTNews) - The Czech Republic's manufacturing downturn eased in October due to softer falls i ...Full Story»

UK Manufacturing Contracts For First Time Since April (02 hr(s), 58 min(s), 28 sec(s) ago)
(RTTNews) - The UK factory activity contracted for the first time since April as manufacturers ado ...Full Story»

Hong Kong Retail Sales Fall Further (03 hr(s), 48 min(s), 28 sec(s) ago)
(RTTNews) - Hong Kong's retail sales value declined for the seventh successive month in Septem ...Full Story»