Austria: PMI remains stable in May
May 30, 2016
In May, the manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria tallied 52.0, which mirrored April’s result. The index has been above the 50-threshold that indicates an expansion in business activity in the manufacturing sector since April of last year.
According to Bank Austria, output growth accelerated slightly in May, while employment and new business increased at a slower pace than in April. Survey participants indicated that demand from foreign markets remained stalled as new business from abroad fell further. In addition, firms stated that employment rose in May, mainly for producers of investment goods, which was the sub-sector that recorded the sharpest increase in production. As for price developments, input prices fell less than in previous months, as prices for certain raw materials are now exerting upward pressures. However, the persistent moderation of input prices was rolled over to selling prices, which were lowered remarkably in May.