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Financial News: Austria's Manufacturing Sector Growth At Record High

Austria's Manufacturing Sector Growth At Record High

05/27/2021 - 05:01:00 (RTTNews)

(RTTNews) - Austria's manufacturing sector grew at a record pace in May driven by output and orders, survey data from IHS Markit showed on Thursday.

The UniCredit Bank manufacturing Purchasing Managers' Index rose to a new high of 66.4 from 64.7 in April. A score above 50 indicates expansion in the sector.

Manufacturers reported record increases in both output and new orders in May. The rate of job creation was the quickest since May 2018. Higher employment has been recorded in every survey throughout 2021 so far.

Further, reports of delivery delays continued to rise in May, reaching a new series-record high for the fourth month in a row.

Input price inflation rose to a new record high in April due to a severe shortage of inputs. There was also a record increase in average prices charged by Austrian manufacturers.

Firms' expectations towards future output remained positive but slipped to a four-month low.

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