Austria: PMI stabilizes in August
August 28, 2014
The manufacturing PMI elaborated by Bank Austria stabilized in August, staying at July’s 50.9. The manufacturing PMI—the result of a survey of over 300 industrial businesses based in Austria—has hovered above the 50 threshold since August 2013.
According to Bank Austria, August’s result showed that, “at 50.9, unchanged from July, the rate of improvement remained muted.”
New orders continued to deteriorate in August and, according to Bank Austria, “the pace of contraction accelerated since July and was the sharpest since April last year.” Conversely, new export orders rose over the previous month and production as well as employment improved over July.
Author: Ricardo Aceves, Senior Economist