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Czech PMI Falls to Lowest in 22 Months as Export Orders Dry Up

Czech manufacturing growth was the weakest in 22 months in October as the pace of new orders from export markets slowed, an industry gauge showed.

The HSBC Czech Republic Manufacturing PMI was 51.7, compared with 52.3 in September, the lowest reading since December 2009, the bank said today in an e-mailed report. A result greater than 50 signals expansion. Manufacturers received a greater volume of new orders in October, although the rate of growth slowed to the weakest since August 2009.

“Data suggested that export markets were especially weak, as new export business rose at a negligible pace since the previous month,” the bank said in the Purchasing Managers Index report, compiled by Markit, a financial information services company. “A number of firms reported weakness from the crucial German market.”

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