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Financial News: Austria Manufacturing Growth Strongest In 6 Years

Austria Manufacturing Growth Strongest In 6 Years

04/27/2017 - 07:10:00 (RTTNews)

(RTTNews) - Austria' s manufacturing activity expanded at the quickest pace in just over six years in April, driven by solid rises in output and new orders, survey figures from IHS Markit showed Thursday.

The UniCredit Bank Austria Purchasing Managers' Index, or PMI, climbed to 58.1 in April from 56.8 in March. Any reading above 50 indicates expansion in the sector.

Moreover, this was the highest reading since March 2011.

Among components, both output and new orders grew at an accelerated pace in April. Job creation remained strong, though the growth eased from March's 70-month high.

On the price front, input price inflation eased marginally in April, while output price inflation accelerated to a 71-month high.

The survey respondents remained confident about future growth prospects, expecting that economic activity would rise in the next 12 months.

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