Czech Factory Growth Strongest Since Feb 2011

Czech Factory Growth Strongest Since Feb 2011

Czech Factory Growth Strongest Since Feb 2011

The National Bureau of Statistics reported that the country's manufacturing purchasing managers' index fell to 51.6 from 51.8 in November.

Ireland's economy is nearly certain to have been the strongest performer in Europe for the fourth straight year, while unemployment has been on a steady downtrend since 2011.

A trend of synchronised global growth that became apparent over the course of past year looked set to continue, with activity surveys in the euro zone and the United States later in the day expected to post strong readings. The level of new contracts received from overseas - mainly from Asia, the United States and Europe - rose at the fastest rate in the history of the survey.

Analysts also expect that manufacturing growth will also be affected in the coming months by restrictions on factory production in some areas and especially in heavy industries to reduce pollution.

"Interestingly, the wages component dipped in December, but at 60.2 it does point to the prospect of some pick-up in wages growth", Mr Oliver said.

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Accordingly, Indian manufacturers upped their staffing levels at the end of the year. In fact, job creation accelerated to the strongest since August 2012.

The slowdown was reflected in the drop in buying activity in December, the sharpest decline since September.

"The goods-producing economy carries strong momentum into 2018, with new order growth at its highest for nearly eight years and rising backlogs of work pointing to the need for further expansion in capacity", Smith added. "Anecdotal evidence pointed to stronger market demand from home and global markets", said Aashna Dodhia, economist at IHS Markit, which compiles the survey.

However, the sector continues to face some turbulence as delayed customer payments contributed to greater volumes of outstanding work.

Cost pressures faced by British factories cooled to a four-month low - good news for Bank of England policymakers who think consumer price inflation is already around its peak. "This outlook was shared by the manufacturing community as sentiment picked up to the strongest in three months amid expected improvement in market conditions over the next 12 months", Dodhia added.

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