Austria: PMI enters expansionary territory in April
April 29, 2015
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria rose from 47.7 in March to 50.1 in April, marking an eight-month high. As a result, the index is now above the 50 threshold that indicates an expansion in business activity in the manufacturing sector.
According to Bank Austria, the improvement observed in April came on the back of a return to growth in both new orders and output. Production recorded the first increase this year and new orders grew for the first time in almost one year. In contrast, employment levels declined and firms’ buying activity fell. Regarding prices, the Bank added that the fall in input prices accelerated in April, however at a weaker pace than at the beginning of 2015.