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.
Author: Christopher Mc Innes, Economist