Austria: Manufacturing PMI records worst reading since May 2020 in April
The Manufacturing Purchasing Managers’ Index (PMI)—produced by UniCredit Bank Austria and S&P Global—fell to 42.0 in April from March’s 44.7. April’s result marked the worst reading since May 2020. As such, 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.
The Manufacturing Purchasing Managers’ Index (PMI)—produced by UniCredit Bank Austria and S&P Global—fell to 42.0 in April from March’s 44.7. April’s result marked the worst reading since May 2020. As such, 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.
Behind April’s decline was a sharper drop in new business orders, which fell at the fastest rate since November 2022. As a result, firms reduced their output levels. Moreover, job creation in the goods-producing sector slowed and was only marginal, while business expectations remained pessimistic. On a positive note, input prices decreased for the second consecutive month amid improving supply conditions.