Áustria PMI Industrial

The UniCredit Bank Austria Manufacturing PMI climbed to 44.5 in November 2024 from 42 in the previous month, marking the 28th consecutive month of contraction, but at the slowest pace since May. The improvement was driven by a more moderate decrease in output and new orders, the two most significant components, which contracted at their least marked rates in six months. Meanwhile, firms continued to reduce workforce numbers to address overcapacity, with the rate of job cuts remaining sharp and the second-fastest since the initial pandemic-related shutdowns in early 2020. On the pricing front, input prices fell at a slower pace than the previous month, while output prices recorded their second-steepest decline in the past year, following the sharp drop in September. Finally, despite ongoing challenges, manufacturers’ expectations for the year-ahead outlook improved.