The UniCredit Bank Austria Purchasing Managers' Index offers an evaluation of the economic situation of Austrian industry by selected purchasing managers.
Unprecedented break in thread of industrial development with prospects of recovery
- In April, the UniCredit Bank Austria Purchasing Managers’ Index fell to a record low of 31.6 points
- A collapse in demand led to the strongest reduction in output to date
- Thanks to the short-term work model, the pace of the cut of workforce numbers is somewhat lower than that of the 2009 financial crisis
- Declining prices in input and output for almost a year
- Industrial activity is expected to hit its low point in April. Recovery from 3Q should limit industrial production losses to less than 10 percent in 2020
as of 28 April 2020.