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Czech Manufacturing Decline Slows In June

The Czech Republic's manufacturing sector deteriorated at a softer pace in June after the lockdown restrictions linked to the coronavirus pandemic were eased, survey data from IHS Markit showed on Wednesday.

The headline manufacturing Purchasing Managers' Index, or PMI, rose to 44.9 in June from 39.6 in May. The rate of contraction was the slowest since February.

Any reading above 50 indicates expansion in the sector.

The backlogs of work declined at the steepest rate in June and new orders fell at the sharpest pace.

Domestic and foreign client demand decreased continuously in June. Client demand declined and the number of workforce were reduced.

Business confidence increased in June, and despite reaching a four-month high, the degree of positive sentiment remained subdued.

On the price front, input price inflation increased slightly in June, while selling prices declined at a faster pace.

"Manufacturers noted renewed optimism in the outlook for output over the coming year but continued to cut factory gate charges in the hope of boosting sales," Sian Jones, Economist at IHS Markit, said.

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