Austria’s manufacturing sector growth improved at the start of the year, after easing to a four-month low in the previous month, survey figures from Markit Economics showed Thursday.
The seasonally adjusted Bank Austria Manufacturing PMI rose to 51.2 in January from 50.6 in December. Any reading above 50 indicates expansion in the sector.
Production grew at the fastest pace in three months in January. New orders received by the manufacturing sector returned to growth, following a decline in the prior month.
The increase in new orders was mainly driven by a stronger demand from domestic market, as new export orders dropped further.
Manufacturers raised their staffing levels for the fifth consecutive month in January, though the rate of job creation was slowed from December.
On the price front, input prices continued to fall in January due to cheaper oil and steel prices. As a result, selling prices also declined during the month.
The material has been provided by InstaForex Company – www.instaforex.com