Austria PMI


Austria: PMI falls further into contraction territory in January

January 29, 2015

The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria decreased from 49.2 in December to 48.5 in January. The index has been below the 50 threshold that indicates a contraction in business activity in the manufacturing sector since September 2014.

According to Bank Austria, a marked decline in manufacturing output that was driven by a fall in new orders was the main driver behind January’s deterioration. The Bank pointed out that, “new orders continued to decrease in January, thereby extending the current period of continuous contraction to eight months. The pace of decline accelerated since December and was sharp overall.” As a result of the fall in production, firms reduced their workforce, which led to a fall in employment for the fifth consecutive month. Finally, the lack of new orders contributed to a further reduction in backlogs.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to expand 1.3% in 2015, which is unchanged from last month’s forecast. In 2016, the panel sees investment growth accelerating to 2.5%.

Author:, Economist

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Austria PMI Chart

Austria PMI January 2015

Note: Bank Austria 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: Bank Austria and Markit.

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