Czech manufacturing activity shrank in October at its quickest pace since May 2020 as output declined further and high prices sapped customer demand, the S&P Global Purchasing Managers' Index (PMI) showed on Tuesday.

The headline PMI dropped to 41.7 from 44.7 in September and staying well below the 50 mark that divides expansion from contraction for a fifth month running. Analysts polled by Reuters had forecast a nearly unchanged reading of 44.3.

The survey showed contractions in both output and orders that were also the fastest in more than two years. Export orders were also hit as economies in key European markets suffer, the survey showed. Cost pressures strengthened and firms cut staff, it added.

Month/Year 10/22 09/22 10/21 Purchasing Managers' Index 41.7 44.7 55.1 Output 37.9 41.5 49.1 ** To monitor in real-time Czech economic data releases in the Eikon app and view historical data click: reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/Economic-Monitor?g=2E (Reporting by Jason Hovet; Editing by Hugh Lawson)