Austria: PMI rises at the beginning of the year
January 28, 2016
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria advanced from 50.6 in December to 51.2 in January. As a result, the index remained above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has been resting since April of last year.
According to Bank Austria, January’s improvement mainly came on the back of a surging output. In fact, production expanded at the fastest pace in three months. New orders returned to mild growth in January, following December’s slump, on the back of growing domestic demand, while exports orders continued to decline. Meanwhile, purchasing activity stabilized, while backlogs of work continued to decline and the pace of job creation slowed. Regarding price developments, input costs continued to drop and output charges fell slightly.