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Austria Manufacturing Sector Growth Slows In November

Austria's manufacturing sector grew for the fifth month in a row in November, but at a softer pace, survey results from IHS Markit showed on Thursday.

The headline UniCredit Bank Austria Manufacturing Purchasing Managers' Index fell to 51.7 in November from 54.0 in October. Any reading above 50 indicates expansion in the sector.

New order growth slowed in November as the new lockdown measures to halt the spread of Covid-19 infection led to reduction in demand.

Output increased for the fifth month in a row in November, albeit at the weakest pace in this sequence.

Firms expectations towards production for the next 12 months were positive and the degree of confidence rose from the previous month, remaining lower than in September.

Employment decreased in November and payroll numbers declined for the ninth month in a row, albeit at a softer rate. Stocks of finished goods declined to the lowest since February 2010.

Input prices rose in November with the rate of inflation rising quickest since March last year. Factory gate charges rose for the second straight month.

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