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Czech Factory PMI At 23-month Low

The Czech manufacturing sector grew at the slowest pace in nearly two years during October as demand softened and business expectations dropped, survey data from IHS Markit showed on Thursday.

The Czech Republic Manufacturing purchasing managers index, or PMI, fell to 52.5 from 53.4 in September. Economists were looking for a score of 52.6.

A reading above 50 suggests growth in the factory sector. The PMI eased for a fourth consecutive month.

New order growth was marginal in October with export demand slowing to a two-year low. Consequently, the rate of job creation was the lowest since August 2016.

A slowdown in the automotive sector and concerns surrounding global trade wars dampened firms' expectations towards output growth for the coming 12 months to their lowest level since July 2013.

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