Austria PMI January 2019

Austria

Austria: PMI improves in January but remains in contractionary territory

January 29, 2020

Although overall business conditions in Austria’s manufacturing sector continued to worsen in January, the pace of deterioration softened significantly. The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) jumped from 46.0 in December to 49.2 in January, marking a nine-month high.

The softer deterioration in operating conditions reflected weaker contractions in total new orders and output. While total new orders fell for the 13th month running owing to weakness at home, new export orders rose for the first time in nearly a year-and-a-half. The decline in output also eased as production of consumer and investment goods grew. Moreover, jobs were shed at a reduced pace in the month.

Looking at prices, average input price pressures softened as purchasing activity among goods-producers was scaled back in accordance with still relatively weak demand dynamics. Output prices, meanwhile, dropped on the back of fierce competition for new orders and lower input prices. In spite of current weakness in demand, sentiment rose to the highest level since September 2018 as firms expected a pick-up in export sales.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 1.9% in 2020, which is unchanged from last month’s forecast. The panel sees fixed investment growth of 2.0% in 2021.


Author:, Economist

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Austria PMI January 20 20

Note: UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI). A reading above 50 indicates an overall increase compared to the previous month, and below 50 an overall decrease.
Source: UniCredit Bank Austria and IHS Markit.


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