Austrian manufacturing PMI rises to five-month highStaff writer ▼ | March 30, 2016
Austrian manufacturing companies reported further growth of output and new orders at the end of the first quarter, with the respective rates of expansion accelerating in both cases.
Austria Bank Austria Manufacturing PMI
The upturn in Austria’s goods-producing sector continued in March, with the seasonally adjusted Bank Austria Manufacturing PMI – a composite indicator designed to provide a single-figure snapshot of manufacturing performance – rising from February’s 51.9 to a five-month high of 52.8.
Moreover, the average PMI reading over the first quarter as a whole (52.0) was the best in two years. March data signalled a solid rise in manufacturing production in Austria.
The increase was in fact the most marked in over two years, with particularly strong growth reported in the investment goods sub-sector. That said, consumer and intermediate goods producers also reported solid expansions during the month. ■