Austria PMI November 2016

Austria

Austria: PMI reaches five-and-a-half year high in November

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.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 3.3% in 2016, which is up 0.3 percentage points from last month’s forecast. The panel sees investment growth of 2.3% in 2017, which is up 0.1 percentage points from last month’s estimate.


Author:, Economist

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Austria PMI November 2016

Note: Bank Austria Purchasing Managers’ Index (PMI) Composite Output. A reading above 50 indicates an expansion in business activity while a reading below 50 indicates a contraction.
Source: Bank Austria and IHS Markit.


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