Economists are keeping a close eye on Austria's manufacturing sector as the country's Purchasing Managers' Index (PMI), reported by Unicredit Bank Austria, slips further in December. The latest data, updated on 27 December 2024, shows the manufacturing PMI at 43.3, down from 44.5 in November.
This continued decline indicates a worsening contraction within the sector, as PMI readings below 50 generally signify a decrease in manufacturing activity. The sluggish performance reflects mounting pressures on Austria's manufacturing industry, possibly due to supply chain disruptions, decreased demand, or other economic factors.
As the sector grapples with these challenges, there is growing concern about their potential impact on the broader Austrian economy. Policymakers and industry stakeholders will likely explore measures to stabilize and revive growth in the manufacturing sector as fears of prolonged downturn mount.
The material has been provided by InstaForex Company - www.instaforex.com
This continued decline indicates a worsening contraction within the sector, as PMI readings below 50 generally signify a decrease in manufacturing activity. The sluggish performance reflects mounting pressures on Austria's manufacturing industry, possibly due to supply chain disruptions, decreased demand, or other economic factors.
As the sector grapples with these challenges, there is growing concern about their potential impact on the broader Austrian economy. Policymakers and industry stakeholders will likely explore measures to stabilize and revive growth in the manufacturing sector as fears of prolonged downturn mount.
The material has been provided by InstaForex Company - www.instaforex.com