Austria: PMI inches further into expansionary territory in May
May 28, 2015
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria rose from 50.1 in April to 50.3 in May, which marked a nine-month high. As a result, the index is now slightly further above the 50 threshold that indicates an expansion in business activity in the manufacturing sector.
According to Bank Austria, the marginal improvement observed in May came on the back of accelerating production, which expanded at the fastest pace since August 2014. However, new orders fell slightly compared to last month, driven by lower domestic orders. Despite the increase in production, employment fell in May, although at a slightly slower rate than in April. The Bank added that input prices decreased again, but at a weaker pace than in the previous month.