Austria PMI

Austria

Austria: PMI drops in November

November 27, 2015

The manufacturing Purchasing Managers’ Index (PMI) elaborated by Bank Austria fell from 53.0 in October, which had marked the highest level since February 2014, to 51.4 in November. Nevertheless, the index remained above the 50-threshold that indicates an expansion in business activity in the manufacturing sector, where it has been resting since April of this year.

According to Bank Austria, slower expansions of output and new orders at Austrian manufacturers were mainly behind November’s setback. Adding to this, the pace of job creation eased. Meanwhile, backlogs of work increased and both pre- and post-production inventories declined, suggesting that firms grew more cautious in November. Regarding price developments, input costs continued to drop and output charges were cut for a second consecutive month.

Met the why particular Consensus Forecast panelists expect gross fixed investment to rise 2.3% in 2016, which is unchanged from last month’s forecast. The panel sees investment growth accelerating slightly to 2.6% in 2017.


Author: Teresa Kersting, Economist

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Austria PMI November 2015

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 Markit.


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