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Austrian Factory Sector Growth Slows In April

Activity in Austria's manufacturing sector increased at a slower rate in April, data from a survey by Bank Austria and Markit Economics showed Friday.

The seasonally adjusted purchasing managers' index (PMI) for the manufacturing sector dropped to 51.2 in April from 51.5 in March. A PMI reading above 50 indicates expansion in the sector, while one below suggests decline.

Production in Austrian factories increased at the weakest pace in the current four-month sequence of expansion. Output increased as firms worked through backlogs of work.

New orders in the manufacturing sector decreased during the month, ending a three-month sequence of growth. Meanwhile, firms increased their workforce at a fastest rate since June 2011in April.

Input prices increased during the month, though at a slower rate, driven by higher costs for raw materials. Manufacturers passed on part of the rise in input prices to their clients, resulting in inflation of output charges, data showed.

by RTTNews Staff Writer

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