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Financial News: Czech Manufacturing Growth Slowest In 3 Months

Czech Manufacturing Growth Slowest In 3 Months

03/01/2021 - 08:03:00 (RTTNews)

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

The headline manufacturing Purchasing Managers' Index, or PMI, fell to 56.5 in February from 57.0 in January. Economists had forecast a score of 58.1.

Any reading above 50 indicates expansion in the sector.

Output and new orders increased further in February. The rate of growth in new export orders was the slowest for five months due to coronavirus restrictions.

Suppliers' delivery time lengthened in February.

Input prices rose at the sharpest pace since March 2011 and selling prices rose modestly. The rate of charge inflation was the quickest since may 2019.

Employment rose for the fifth straight month in February and backlogs of work rose solidly.

Optimism was attributed to greater client demand, with the hopes of a successful vaccine roll-out and end of restrictions.

"We do not currently foresee any interest changes until late-2021, with the latest inflationary risks expected to be transitory," Sian Jones, economist at IHS Markit, said.

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