Austria PMI September 2017

Austria

Austria: PMI inches down slightly in September

September 28, 2017

The Bank Austria manufacturing Purchasing Managers’ Index (PMI) inched down from its multi-year high of 61.1 in August to 59.4 in September; however, the index remains high and continued its trend of strong prints. The index also remains above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has remained since April 2015.

Output expanded in September, underpinned by the investment goods sector. New orders also grew, albeit at a slightly more moderate pace than in August. As a result, manufacturing capacity experienced more pressure as backlogs of work rose, inventories waned and supplier delivery times lengthened. Consequently, businesses created more jobs, continuing the over one-year streak of employment growth. In terms of prices, input price inflation rose to a five-month high, whereas output prices eased at the slowest pace in six months, but remained elevated compared to the historical average. The expansion in manufacturing in September was one of the strongest in the history of the survey.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 3.6% in 2017, which is up 0.7 percentage points from last month’s forecast. The panel sees investment growth of 2.3% in 2018, which is up 0.2 percentage points from last month’s estimate.


Author:, Economist

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Austria PMI September 2017

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 IHS Markit.


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