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Austria PMI March 2024

Austria: Manufacturing PMI ticks down in March

The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) fell to 42.2 in March from 43.0 in February. As a result, the index moved further below the 50.0 no-change threshold and signaled a faster deterioration in manufacturing sector operating conditions compared to the previous month.

In March, new orders decreased at the fastest year-to-date rate due to full customer warehouses and a general lack of investment appetite. In particular, new export orders saw a sharp decline, especially from the German market. In response, firms shed staff at the steepest pace since May 2020 and supplier delivery times at a more pronounced rate—negatively impacting the index—due to weaker demand. While output decreased at a slower rate, manufacturers indicated a reliance on backlogs to support production volumes.

On the price front, March saw a steeper fall in input costs and factory gate charges. This trend chiefly reflects sustained downward pressure on prices due to weak demand, alongside manufacturers facing competition for new work. Finally, despite the sector’s challenges, optimism among manufacturers for the next 12 months reached a 25-month high, underpinned by hopes for a rebounding economy and potential interest rate cuts.

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