Austria Manufacturing Downturn Continues In November

Austria’s factory activity remained in contraction for the fourth successive month in November amid a sharp slump in demand despite easing price pressures, survey data from S&P Global showed on Monday.

The UniCredit Bank Austria manufacturing Purchasing Managers’ Index stood at 46.6 in November, unchanged from October. However, a score below 50.0 indicates contraction.

New orders registered a sustained steep drop in November, linked to weaker demand due to high inflation, caution among clients, a lack of appetite for investment, and full warehouses.

Output fell for the sixth consecutive month in November, although the rate of contraction has eased since October.

On the price front, input price inflation moderated to a 23-month low in November amid a further alleviation of supply-chain constraints. The rate of selling price inflation was the slowest in three months.

The outlook for the year-ahead was less pessimistic than a month earlier, but widespread concerns about high energy costs, inflation, and broader slowdowns remained.

Despite the gloomy outlook, manufacturing employment rose further in November, linked in part to the filling of vacancies.

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