Austria: Manufacturing conditions improve at a faster pace in October
Manufacturing operating conditions in Austria improved at a faster pace in October, with the UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) reaching 54.0, up from 51.7 in September, registering the strongest reading in nearly two years. Consequently, the print came in above the neutral 50-threshold which indicates an overall improvement in manufacturing conditions compared to the previous month.
The uptick reflected accelerated growth in new orders and output, driven by both a rebounding domestic industry and recovering foreign demand. However, employment conditions worsened. Moreover, increasing production caused supplier delivery times to increase, as suppliers struggled to meet the rapid acceleration in demand.