The UniCredit Bank Austria Purchasing Managers' Index offers an evaluation of the economic situation of Austrian industry by selected purchasing managers.
Industrial economy slowly gaining momentum, with deepest ever recession in Austrian industry coming to an end in July
- The UniCredit Bank Austria Purchasing Managers' Index increased significantly in July, to 52.8 points - the highest value in 1 1/2 years and above the growth threshold of 50 for the first time since the onset of the "coronavirus crisis"
- Following the sharp decline seen in recent months production grew significantly, driven primarily by a strong increase in new domestic orders and, for the first time, backlogs of work
- New export orders have also improved, although they remain below the growth threshold of 50
- While the situation with orders has improved, employment levels continue to fall, albeit less sharply than in recent months
- Input and output prices also continue to decline
- The index of production expectations rose to 54.2 points in July. This rise confirms a V-shaped recovery though is still somewhat moderate goive the preceding historic slump
as of 29 July 2020.