Austria PMI June 2021

Austria

Austria: Manufacturing PMI jumps to record-high in June

June 28, 2021

Operating conditions in Austria manufacturing sector continued to improve at breakneck speed, with the UniCredit Bank Austria Manufacturing PMI jumping to 67.0 in June from 66.4 in May. Consequently, the index moved further above the neutral 50-threshold that separates expansion from contraction in the manufacturing sector compared to the prior month as the sector gained traction.

The improvement in the headline reading was driven by unprecedented growth in order book volumes amid stronger demand at home and abroad as lockdown measures were eased and investment spending resumed. Despite this, output growth slowed amid supply bottlenecks. Consequently, supplier delivery times lengthened and backlogs of work rose steeply. All said, input cost and output price inflation rose to new record highs amid the imbalance between supply and demand. Lastly, sentiment levels remained markedly positive as manufacturers hope for a sustained recovery in demand in the year ahead and expect supply side pressures to cool.

FocusEconomics panelists forecast fixed investment to expand 6.2% in 2021, which is up 2.0 percentage points from last month’s forecast. The panel sees fixed investment growth of 4.7% in 2022.


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Austria PMI June 2021

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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