Austria PMI November 2020

Austria

Austria: Manufacturing conditions improve at a softer pace in November

November 26, 2020

Manufacturing operating conditions in Austria improved at a softer pace in November, with the UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) dropping to 51.7, down from the near two-year high of 54.0 in October. However, the print remained above the neutral 50-threshold which indicates an overall improvement in manufacturing conditions compared to the previous month.

The softer expansion in operating conditions came on easing output, new orders and exports growth as new restrictive measures amid the second wave of Covid-19 dragged markedly on the consumer goods sector. Moreover, jobs were shed for the ninth consecutive month.

FocusEconomics panelists forecast fixed investment to expand 4.6% in 2021, which is down 1.3 percentage points from last month’s forecast. The panel sees fixed investment growth of 3.7% in 2022.


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Austria PMI November 20 20

Note: UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI). A reading above 50 indicates an overall increase compared to the previous month, and below 50 an overall decrease.
Source: UniCredit Bank Austria and IHS Markit.


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