Austria: PMI reaches five-and-a-half year high in November
November 29, 2016
In November, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 55.4, which was up from October’s 53.9 and marked a five-and-a-half year high. The index moved further above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has remained since April last year.
Output, new business and purchasing activity rose sharply, having a large positive knock-on effect on employment. Part of the increase in new orders was due to a pick-up in foreign demand, which rose at the fastest pace in three years. November also saw high input cost inflation due to increased raw material prices and exchange rate factors, although this did not translate into higher selling prices.
Author: Oliver Reynolds, Economist