Austria: Manufacturing PMI falls in December
The Manufacturing Purchasing Managers’ Index (PMI)—produced by UniCredit Bank Austria and S&P Global— fell to 42.0 in December from November’s 42.2. As a result, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month.
December’s downturn chiefly reflected firms scaling back output at the steepest pace since July. Moreover, employment fell at a faster pace at the tail end of 2023. That said, external demand and new orders contracted at softer rates, capping the overall decline in the headline PMI index.
On the price front, input costs decreased at a slower clip in December, leading firms to reduce selling charges at the slowest rate in eight months. Lastly, firms’ sentiment regarding output expectations for the coming 12-month period improved slightly, though remained gloomy overall.