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Financial News: Austria Factory Activity Growth Remains Strong Despite Slo

Austria Factory Activity Growth Remains Strong Despite Slowing Demand

07/27/2018 - 04:19:00 (RTTNews)

(RTTNews) - Austria's manufacturing sector growth continued at a robust pace in July, though new order gains kept slowing, survey data from IHS Markit showed Friday.

The Unicredit Bank Austria Manufacturing Purchasing Managers' Index edged up to 56.8 from 56.6 in June, marking the second-lowest reading since March 2017.

A PMI score above 50 shows expansion in activity. The uptick in the headline figure mainly reflected stronger employment growth, IHS Markit said.

Production grew at the fastest pace in three months, while manufacturing new orders rose at slowest rate since August 2016. Export orders declined for the first time since August 2016, albeit only slightly.

Input price inflation remained strong with firms reporting higher prices mainly for steel, chemicals and plastics. This led to another strong increase in prices charged for finished manufactured goods

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