Austria PMI August 2019

Austria

Austria: PMI edges up in August

August 28, 2019

Conditions in the Austrian manufacturing sector remained weak in August, although improved somewhat from July’s result. The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) rose from a nearly six-year low of 47.0 in July to 47.9 in August. The PMI, however, remains below the 50-mark, pointing to contractionary conditions in the manufacturing sector.

August’s result reflected weak demand, with new orders contracting for the eight-consecutive month. In addition, output fell, although at a slightly more moderate pace than in July. Adding to the gloomy survey, firms shed jobs for the second month in a row.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 2.8% in 2019, which is unchanged from last month’s forecast. The panel sees fixed investment growth of 2.2% in 2020.


Author:, Economist

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Austria PMI August 2019

Note: UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) Composite Output. A reading above 50 indicates an expansion in business activity while a reading below 50 indicates a contraction.
Source: UniCredit Bank Austria and IHS Markit.


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