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Austria PMI June 2024

Austria: Manufacturing PMI falls in June

The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) fell to 43.6 in June from May’s 46.3. As a result, the index moved further below the 50.0 no-change threshold and signaled a faster deterioration in manufacturing-sector operating conditions compared to the previous month.

The reading reflected accelerated declines in output and new orders. The significant drop in production levels was attributed to weak demand, and a quicker decrease in new orders was influenced by customer hesitancy and a downturn in the construction sector. Additionally, new exports declined at a sharper pace—particularly to Germany—and a further reduction in backlogs of work prompted the steepest job shedding in over four years.

Regarding prices, input costs rose for the first time since February 2023, driven primarily by higher raw material prices. Meanwhile, average factory gate charges continued to fall amid increased competition for new work—albeit at the slowest pace in four months. Lastly, business sentiment improved, buoyed by expectations of restocking among customers and a general pickup in economic conditions amid lower interest rates.

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