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Financial News: Czech Manufacturing Growth Slows In September

Czech Manufacturing Growth Slows In September

10/01/2021 - 08:12:00 (RTTNews)

(RTTNews) - The Czech Republic's manufacturing sector growth eased in September, survey data from IHS Markit showed on Friday.

The purchasing managers' index, or PMI, for the manufacturing sector rose to 58.0 in September from 61.0 in August. Economists had forecast a reading of 58.4.

A PMI reading above 50 signals growth in the sector.

Output growth eased, partially driven by the weaker rise in new orders. New export orders increased further in September and suppliers' delivery time lengthened.

Input costs rose in September and the rate of charge inflation eased slightly.

Employment growth quickened in September and backlogs of work increased further.

The 12-month outlook for output for the next 122 months eased to the lowest in ten months.

"Although rates of growth have slowed from the record highs seen earlier in the year, demand conditions reportedly remain solid," Sian Jones, senior economist at IHS Markit, said.

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