Austria: PMI edges down in June reaching 11-month low
June 27, 2014
Bank Austria’s manufacturing PMI Index inched down to 50.4 in June. The result was a slight moderation compared to the 50.9 recorded in May and marked the lowest level in 11 months. The manufacturing PMI—the result of a survey of over 300 industrial businesses based in Austria—has hovered above the 50 threshold since August 2013.
According to Bank Austria, June’s result showed that, “operating conditions in Austria’s manufacturing economy continued to strengthen in June, but only fractionally as a modest fall in new orders weighed on sector performance.” New orders fell in June as a result of lower demand from both the domestic and international markets. Conversely, respondents to the June survey reported that manufacturing production had increased and helped to clear some inventories. Meanwhile, both input and output prices increased over the previous month.
Author: Ricardo Aceves, Senior Economist