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Austria PMI January 2024

Austria: Manufacturing PMI rises in January

The UniCredit Bank Austria and S&P Global Manufacturing PMI improved to a 10-month high of 43.0 in January from 42.0 in December. Despite the uptick, the index remained entrenched below the 50.0 no-change threshold but signaled a softer deterioration in manufacturing sector operating conditions compared to the previous month.

January’s uptick reflected new orders contracting at a slower rate. Nevertheless, the indicator remained historically low, weighed on by a sharper fall in external demand. Meanwhile, output and employment declined at softer paces compared to December. Consequently, purchasing activity was also scaled back.

Supply disruptions due to attacks in the Red Sea caused delays, although weak demand for inputs softened the lengthening of delivery times and drove purchase prices lower. As a result, firms reduced selling charges further in January. Lastly, manufacturers expressed concerns about high energy costs, geopolitical tensions and the economic outlook. That said, firms’ sentiment regarding output expectations for the coming 12-month period improved to a one-year high.

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