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Financial News: Austria Manufacturing Sector Logs Record Growth In June

Austria Manufacturing Sector Logs Record Growth In June

06/28/2021 - 05:19:00 (RTTNews)

(RTTNews) - Austria's manufacturing sector registered another record growth in June amid increase in new orders as demand continued to recover from the effects of the COVID-19 pandemic, survey results from IHS Markit showed on Monday.

The headline UniCredit Bank Austria Manufacturing Purchasing Managers' Index rose to 67.0 in June from 66.4 in May. A score above 50 indicates expansion in the sector.

New order growth hit a fresh record high in June on robust demand from both domestic and foreign markets. At the same time, the rate of output growth remained elevated by historical standards but eased from May's record high to a four-month low.

On the price front, the survey revealed that the rate of input price inflation quickened to a new all-time high in June and average factory gate charges increased at a record rate.

Overall expectations remained strongly positive by historical standards, and even improved slightly since May.

Strong optimism towards the outlook, combined with efforts to expand capacity to meet demand, led to a steep rise in factory employment in June, the survey showed.

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