Austria Manufacturing Growth Hits 51-month High

(RTTNews) - Austria's manufacturing sector expanded at its fastest pace in over four years during August, driven by accelerated output growth and renewed demand momentum, according to survey results published by S&P Global on Thursday.

The UniCredit Bank Austria Manufacturing Purchasing Managers' Index climbed to 54.4 in August from 51.5 in July. Readings above 50 signal expansion in the sector.

Output expanded at its quickest pace in four-and-a-half years in August, fueled by increased new orders and greater capacity utilization. New order growth reached its fastest rate since February 2022, supported by solid export sales increases.

Employment rose modestly as capacity pressures mounted, marking an end to more than three years of consecutive job reductions. Manufacturing firms accelerated their purchasing activity at the fastest pace since June 2022 to support rising production needs.

Input price inflation edged up marginally in August following July's decline to its lowest level since the Middle East conflict began. This shift drove selling prices higher at a faster rate.