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.
Author: Christopher Mc Innes, Economist