Czech manufacturing growth slowed more-than-expected in October to the weakest level in ten months, survey figures from Markit Economics showed Monday.
The Purchasing Managers’ Index, or PMI, dropped to 54.0 in October from 55.5 in the previous month. Economists had expected the index to fall to 55.0.
However, any reading above 50 indicates expansion in the sector. The latest rate of growth was the slowest in this year so far.
New orders increased at a solid overall pace in October, but growth slowed further to the weakest in two years.
Data also showed that new export orders grew at the weakest pace in the current 29-month sequence of expansion.
Weaker growth of new orders impacted on production in October. The rate of expansion in output slowed sharply to the weakest in 2015 to date.
On the price front, both input and output prices fell for the second consecutive month in October, dragged down by cheaper raw material costs.
The material has been provided by InstaForex Company – www.instaforex.com