The purchasing managers index (PMI) for the Czech manufacturing industry continued to increase in February 2014 indicating the strongest overall improvement in operating conditions since April 2011, a survey compiled by financial information company Markit Economics for HSBC showed.
The index, which monitors output, new orders, employment, stock levels and prices in the goods-producing sector, rose to 56.5 points in the second month of the year from 55.9 points January and stayed above the 50-point mark that signals expansion of the sector for the tenth straight month.
New orders grew for the ninth month in a row in February and at the fastest pace in three years thanks to a strong foreign demand. New business from abroad grew at the strongest pace since June 2010 and at the second-fastest in the survey’s history, Markit said.
Improving new business inflows helped output in the sector increase for the 11th straight month in February with the rate of expansion hitting a 34-month high. The growth was supported by a rise in employment albeit the pace of expansion eased to a five-month low. Despite the rise in output, backlogs of work also increased at the second-fastest rate since September 2011. Manufacturers also expanded their purchasing activity and stocks of new inputs.
Price pressures remained strong in February reflecting the weaker koruna. Input prices grew for the sixth month running in February, while output prices decreased for the first time in five months.
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