The UniCredit Bank Austria Purchasing Managers' Index offers an evaluation of the economic situation of Austrian industry by selected purchasing managers.
The pace of the downturn in Austrian industry is alreadey slowing significantly
- Despite the strongest monthly increase in the UniCredit Bank Austria Purchasing Managers' Index to date, the threshold of 50 points, which signals growth in the industrial sector, has still not been reached
- After a record low in April, the indicator is still at just 40.4 points, despite having improved by almost 9 points
- The drop in production output among Austrian companies is now slowing, keeping pace with the situation with the decline in new business
- Employment levels in domestic industry continue to decline, but at a slower pace
- The drop in input and output prices is accelerating
- Weak demand caused stocks of finished goods to reach a record high
- After the low in April, the production expectations index also rose in May, by more than 10 points to 40.6 points
- A significant upturn is expected in H2, which should limit the drop in industrial production for 2020 as a whole to under 10 per cent
as of 27 May 2020.