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Financial News: Austria Manufacturing Growth At 76-Month High

Austria Manufacturing Growth At 76-Month High

06/28/2017 - 04:22:00 (RTTNews)

(RTTNews) - Austria's manufacturing activity expanded at the quickest pace in nearly six-and-a-half years in June, driven by steep growth in production, new orders and employment, survey figures from IHS Markit showed Wednesday.

The UniCredit Bank Austria Purchasing Managers' Index, or PMI, climbed 60.7 in June from 58.0 in May. Any reading above 50 indicates expansion in the sector.

Output grew at the fastest rate in over seven years in June. Similarly, new order growth was the steepest seen for over six years.

Demand for goods came from both domestic and export markets in June, with new orders from abroad also registering marked growth. Consequently, employment growth accelerated in June .

On the price front, both input and output price inflation eased marginally in June.

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