October 1, 2022
According to survey results from S&P Global, Austria’s industrial activity decreased for the second consecutive month in September due to a steep decline in new orders and rising inflation brought on by higher energy prices.
The manufacturing Purchasing Managers’ Index from UniCredit Bank held constant in September at 48.8. Any number below 50 denotes contraction, and any score above 50 denotes sector expansion.
For the first time since June 2020, the index entered the sub-50 contraction range in August.
Due to the unclear outlook, high costs, and high stock levels at clients, new orders decreased at the fastest rate since May 2020.
In a similar vein, new export orders fell at the fastest rate in 27 months.
For the third month in a row, manufacturers’ purchasing activity declined in September.
Source: RTT News
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