Austria Manufacturing Downturn Eases In January

(RTTNews) - Austria's manufacturing activity deteriorated at a slower pace in January, survey results from S&P Global showed on Wednesday.

The UniCredit Bank Austria Manufacturing Purchasing Managers' Index rose to 45.7 in January from 43.3 in December. However, any score below 50.0 suggests contraction.

During January, output, new orders, purchasing activity, and employment all fell more slowly than in the previous month.

The overall decline in demand was due to a general reluctance among customers amid concerns for the economy. Nonetheless, the fall in new orders was the weakest since May 2022.

Firms reduced their workforce numbers further in January as capacity was reduced. Lower production requirements and efforts to streamline stocks, goods producers continued to scale back their purchasing activity.

On the price front, both input costs and output charges fell at slower rates in January.

Looking ahead, manufacturers showed a renewed optimism regarding output expectations over the next year, boosted in part by the prospect of lower interest rates.