Austria: Manufacturing PMI hits highest reading since April in October
The Manufacturing Purchasing Managers’ Index (PMI)—produced by UniCredit Bank Austria and S&P Global—came in at 41.7 in October, up from September’s 39.6. October’s result marked the best reading since April. Consequently, the index remained entrenched below the 50.0 no-change threshold, signaling a sustained, though slower, deterioration in manufacturing sector operating conditions from the previous month.
The downturns in output and new orders eased. However, companies still faced weak demand amid consumer hesitancy and a construction slowdown. Meanwhile, the rate of job shedding eased from the previous month. On the prices front, both input and output prices fell due to competitive pressures among firms and the need to pass on cost savings to customers. Firms were more pessimistic than in September, citing concerns about the impact of high interest rates, squeezed purchasing power, and economic uncertainty.