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Austria PMI January 2023

Austria: Manufacturing PMI rises in January; conditions continue to deteriorate

The Manufacturing Purchasing Managers’ Index (PMI)—produced by UniCredit Bank Austria and S&P Global—increased to 48.4 in January from December’s 47.3. As such. the index moved closer to but remained below the 50.0 no-change threshold, signaling a milder deterioration of business conditions in the manufacturing sector compared to the prior month.

January’s improvement was largely due to new orders declining at the softest rate in six months. In the same vein, output contracted at the slowest pace since July 2022 amid the waning effects of supply chain disruptions and high input costs. The rate of job creation lost steam compared to that of December. Turning to prices, input cost inflation continued its downward trend for an eighth consecutive month in January, falling to levels slightly below its long-term average. Meanwhile, business confidence turned positive for the first time in eight months.

January’s improvement was largely due to new orders declining at the softest rate in six months. In the same vein, output contracted at the slowest pace since July 2022 amid the waning effects of supply chain disruptions and high input costs. The rate of job creation lost steam compared to that of December. Turning to prices, input cost inflation continued its downward trend for an eighth consecutive month in January, falling to levels slightly below its long-term average. Meanwhile, business confidence turned positive for the first time in eight months.

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