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Financial News: Czech Manufacturing Growth Lowest In 11 Months

Czech Manufacturing Growth Lowest In 11 Months

11/01/2021 - 11:27:00 (RTTNews)

(RTTNews) - The Czech Republic's manufacturing sector growth eased to the lowest in eleven months in October, survey data from IHS Markit showed on Monday.

The purchasing managers' index, or PMI, for the manufacturing sector fell to 55.1 in October from 58.0 in September.

Economists had forecast a reading of 57.0. A PMI reading above 50 signals growth in the sector.

New orders declined in October and new business intake lowered. New export orders decreased marginally.

Input purchasing increased to a weaker extent in October and suppliers' delivery time lengthened.

Employment increased in October and backlogs of work accelerated.

Input cost and output prices increased in October.

"The slowdown seen in the Czech manufacturing sector in recent months gathered further pace in October as the intense global supply chain issues weighed heavily on production schedules," Joe Hayes, senior economist at IHS Markit, said.

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