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.
Author: Christopher Mc Innes, Economist