Austria PMI January 2017

Austria

Austria: PMI surges to almost six-year high in January

January 30, 2017

In January, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 57.3, which was up from December’s 56.3 and marked an almost six-year high. As a result, the index moved further above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has remained since April last year.

Output, new business and purchasing activity continued their surge in January. As a consequence of higher demand, backlogs of work grew and producers increased their number of employees. Regarding prices, businesses reported higher cost pressure due to increasing commodity prices.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 2.4% in 2017, which is up 0.1 percentage points from last month’s forecast. The panel sees investment growth of 2.0% in 2018.


Author:, Economist

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Austria PMI January 2017

Note: Bank Austria Purchasing Managers’ Index (PMI) Composite Output. A reading above 50 indicates an expansion in business activity while a reading below 50 indicates a contraction.
Source: Bank Austria and IHS Markit.


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