Austria: PMI rises to 20-month high in October
October 30, 2015
The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria rose from 52.5 in September to 53.0 in October, 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, October’s improvement came mainly on the back of output and new orders, which benefitted from rising domestic and external demand. In addition, backlogs of work grew at a faster pace and employment rose for a second consecutive month. Input costs continued to drop notably over low oil and raw material prices and output charges fell slightly in October as firms passed on lower input costs to their customers.