Austria: PMI in March hits five-month high
March 30, 2016
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria increased from 51.9 in February to 52.8 in March, which marked the highest reading in five months The index is still above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has been resting since April of last year.
According to Bank Austria, production in March increased at the fastest rate in over two years. New orders also continued to accelerate in March and particularly strong growth was reported in the investment goods sub-sector. Firms indicated that higher demand came from the domestic market, while export orders declined for the third time in the past four months. Meanwhile, employment levels stagnated in March. As for price developments, input prices fell again, reflecting low oil and raw material prices.