Austria: PMI decreases further in August
August 30, 2016
In August, the manufacturing Purchasing Managers’ Index (PMI) produced by Bank Austria came in at 52.1, which was down from July’s 53.4. The index remained above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has been since April last year.
According to Bank Austria, operating conditions in the manufacturing industry continued to improve in August. Survey participants indicated that foreign demand weighed on overall new business, which grew timidly. Companies continued to increase their purchasing activity, which boosted stock levels for the first time in over a year. Overall, output expanded in August but at a slower rate than in July.
Moreover, firms reported a further increase in employment levels. They also stated that both input and sales prices remained stable, following several consecutive months of price increases.
Author: Christopher Mc Innes, Economist