Austria: PMI inches up in October
October 28, 2016
In October, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 53.9, which was up from September’s 53.5. The index moved further above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has been since April last year.
The result shows that operating conditions in the manufacturing industry continued to improve in October, with output and new orders both picking up. In a response to strengthening demand, firms increased employment and buying activity. While input costs rose slightly, firms cut output charges due to increased competition.
Author: Christopher Mc Innes, Economist