Austria: PMI falls from July's 17-month high in August
August 28, 2015
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria fell from 52.4 in July, which had marked the highest level since February 2014, to 50.5 in August. As a result, the index is closer to the 50 threshold that indicates an expansion in business activity in the manufacturing sector.
According to Bank Austria, the fall observed in August came on the back of a renewed decline in employment along with more moderate expansions in output and new orders. In addition, foreign demand decreased, contrasting four consecutive months of gains. The Bank also added that input costs rose, in part due to the low value of the euro, but that the increase was mild overall.