Austria PMI July 2017

Austria

Austria: PMI moderates in July but remains close to six-year high

July 28, 2017

In July, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 60.0, down from June’s 60.7. As a result, the index remained far above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has remained since April 2015.

Output and new business grew sharply in June, as did new export orders. As a consequence of higher demand, producers continued to increase their number of employees at a fast pace. Regarding prices, input price inflation rose rapidly and output prices also increased at a sharp rate.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 2.3% in 2017, which is up 0.4 percentage points from last month’s forecast. The panel sees investment growth of 2.1% in 2018.


Author:, Economist

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Austria PMI July 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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