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Financial News: Austria Manufacturing Growth Eases In August

Austria Manufacturing Growth Eases In August

08/27/2021 - 08:05:00 (RTTNews)

(RTTNews) - Austria's manufacturing sector growth slowed in August, due to the supply side disruptions faced by producers, survey results from IHS Markit showed on Friday.

The UniCredit Bank Austria manufacturing Purchasing Managers' Index fell to 61.8 in August from 63.9 in July. Any reading above 50.0 indicates expansion in the sector.

New orders continued to increase in August, albeit at a softer pace. Export sales growth was the slowest since February.

Backlogs of work rose in August and suppliers' delivery time lengthened.

Input costs and output prices increased in August, albeit at a softer rate.

The outlook for the next 12 months remained strongly positive in August. Employment increased sharply.

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