Austria: PMI stable in AprilStaff Writer | April 27, 2018
The Purchasing Managers’ Index (PMI) released by Bank Austria was stable at the prior month’s result of 58.0 points in April, remaining well-anchored above the 50-threshold separating expansion from contraction in Austria’s manufacturing sector.
In April, a pick-up in output and employment growth was offset by slower growth in new orders. Production increased from the prior month primarily on the back of a rebound in consumer goods output growth.
Meanwhile, employment grew at one of the quickest paces in the survey’s history in April; nevertheless, backlogs of work increased. For the fourth consecutive month, the pace of growth in new orders slowed, and new export orders expanded at the softest rate in a year-and-a-half.
Supply chains remained under pressure in April, and delivery times of inputs widened again. This helped keep inflation afloat as input prices increased strongly.
As a result, output prices also grew at a strong pace. Output expectations moderated to the lowest level in 11 months but remained resilient.
FocusEconomics Consensus Forecast panelists expect gross fixed investment to rise 3.6% in 2018, which is up 0.3 percentage points from last month’s forecast. The panel sees investment growth of 2.3% in 2019. ■