Dec. 1 (Bloomberg) -- Czech manufacturing declined for the first time in two years in November as both domestic and export orders weakened, an industry gauge showed.
The HSBC Czech Republic Manufacturing PMI was 48.6, compared with 51.7 in October, the first reading below the 50 mark since October 2009, the bank said today in an e-mailed report. A result greater than 50 signals expansion. New orders received by manufacturers decreased for the first time since July 2009.
“Data suggested that both domestic and export markets weakened as new export contracts declined for the first time since August 2009,” the bank said in the Purchasing Managers Index report, compiled by Markit, a financial information services company. “Mainly as a result of declining new orders, Czech manufacturers cut production in November, the first month- on-month decline registered in 28 months.”
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