Austria's Manufacturing Sector Growth Accelerates
Austria’s manufacturing sector expanded at a faster pace in September on further increases in output and new orders, survey data from IHS Markit showed on Monday.
The headline UniCredit Bank Austria manufacturing Purchasing Managers’ Index rose to 51.7 in September from 51.0 in August.
A score above 50 indicates expansion. Nonetheless, the score was still down slightly on July’s recent high.
Production grew for the third straight month as firms raised output in line with a further increase in new orders. Firms showed a reduced willingness to cut staff numbers, with employment down only marginally.
Expectations picked up for the fifth straight month and were only just below the level seen in February prior to the covid-19 shutdowns.
Turning to prices, data showed a marginal decrease in factory gate charges. The decline was the weakest in the current 15-month sequence of discounting. Average purchase prices also decreased at a slower pace.