Austria: Manufacturing PMI hits eight-month high in November
The Manufacturing Purchasing Managers’ Index (PMI)—produced by UniCredit Bank Austria and S&P Global—came in at 42.2 in November, up from October’s 41.7. November’s result marked the best reading in eight months. Consequently, the index remained entrenched below the 50.0 no-change threshold, signaling a sustained, though slower, deterioration in manufacturing sector operating conditions from the previous month.
The declines in new orders and employment eased in November from the previous month. However, the downturns in output and purchasing activity accelerated. On the price front, both input and output prices fell amid weaker demand leading to discounting. Lastly, firms were less pessimistic than in October.