Austria: Despite inching down in April, PMI continues to suggest expansion
April 28, 2016
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria inched down from 52.8 in March to 52.0 in April. Despite the drop, the index remained above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has been resting since April of last year.
According to Bank Austria, production and new orders continued to grow in April, although at a slower rate than in March. This is primarily explained by the ongoing decline of foreign demand. Despite that, firms indicated that their purchasing activity rose at the fastest rate in over two years. Meanwhile, employment in manufacturing increased in April. As for price developments, input prices fell again, although less than in previous months, and manufacturers decreased their selling prices.