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Financial News: Austria's Manufacturing Sector Growth Strengthens In Janua

Austria's Manufacturing Sector Growth Strengthens In January

01/27/2021 - 05:20:00 (RTTNews)

(RTTNews) - Austria's manufacturing sector logged strong growth in January with further increases in output and new orders, survey results from IHS Markit showed Wednesday. The UniCredit Bank manufacturing Purchasing Managers' Index climbed to 54.2 in January from 53.5 in December. This was the highest score since November 2018.

The rise in the headline index was driven by its employment, stocks of purchases and supplier delivery times sub-components. Workforce numbers increased for the first time in nearly a year.

New orders rose at a solid pace, albeit slightly slower than in December. Output also increased more slowly in January.

The rate of purchase price inflation accelerated sharply to the quickest since November 2018. There was an associated rise in average factory gate charges in January.

Manufacturers' outlook for output increased in January, reflecting hopes of an easing of the pandemic and a subsequent improvement in demand.

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