Austria: PMI rises to 19-month high in September
September 30, 2015
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria rose from 50.5 in August to 52.5 in September, which marked the highest level since February 2014. As a result, the index is further above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.
According to Bank Austria, Austrian manufacturers closed the third quarter on a positive note with more pronounced expansions in output and new-order growth. New orders recorded the best result since February on the back of stronger domestic and foreign demand. As a result of the increase in new orders, businesses increased their purchasing activity in September for the first time in more than one-year. In addition, companies added jobs; however, the pace of creation was moderate overall. Meanwhile, input costs declined partly on the back of low prices for oil and commodities.