Austria Manufacturing Downturn Deepens In September

(RTTNews) - Austria's factory activity contracted at a faster pace in September amid a renewed fall in output, survey data from S&P Global showed on Friday.

The UniCredit Bank Austria Manufacturing Purchasing Managers' Index dropped to 47.6 in September from a 37-month high of 49.1 in August. Any score below 50.0 indicates contraction.

Production volumes fell for the first time in three months after increasing at the quickest pace since May 2022 in August.

New orders fell at a faster pace in September, linked to US tariffs, uncertainty among customers, and strong competition from abroad. New export business logged the steepest fall since June.

Due to lack of capacity pressures, firms continued to reduce their purchasing activity and workforce numbers, and the rate of job shedding was the quickest in three months.

On the price front, input price inflation accelerated to the highest since January 2023, while selling prices reduced further amid weak demand and associated competitive pressures.