Austria PMI October 2016

Austria

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.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 3.0% in 2016, which is up 0.5 percentage points from last month’s forecast. The panel sees investment growth of 2.2% in 2017, which is up 0.2 percentage points from last month’s estimate.


Author:, Economist

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Austria PMI October 2016

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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