Austria PMI February 2017

Austria

Austria: PMI remains broadly stable at multi-year high in February

February 27, 2017

In February, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 57.2. The print was just barely below January’s 57.3, which had marked an almost six-year high. As a result, the index remained above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has remained since April last year.

Output, new business and purchasing activity continued their surge in February. As a consequence of higher demand, backlogs of work grew and producers increased their number of employees at the fastest rate in over five years. Regarding prices, businesses reported higher cost pressure due to increasing commodity prices and led a number of firms to increase their output prices.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 2.3% in 2017, which is down 0.1 percentage points from last month’s forecast. The panel sees investment growth of 1.9% in 2018.


Author:, Economist

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Austria PMI February 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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