Czech manufacturing growth improved less-than-expected in November, survey figures from Markit Economics showed Tuesday.
The Purchasing Managers’ Index, or PMI, rose slightly to 54.2 in November from October’s 10-month low of 54.0. Economists had expected the index to rise to 54.5. However, any reading above 50 indicates expansion in the sector.
The volume of new business increased further in November, though the rate of growth was the slowest since June 2013.
At the same time, manufacturing production climbed at a faster rate than October and was strong in the context of historic survey data.
Employment level in the sector grew in November, with the rate of job creation accelerating since October and stronger than the long-run survey average.
On the price front, input prices fell for the third straight month in November. In contrast, firms raised their selling prices slightly due to competitive pressures.
The material has been provided by InstaForex Company – www.instaforex.com