No turnaround at the turn of the year: industrial economy clouds over again
“The UniCredit Bank Austria Purchasing Managers' Index fell to 43.3 points in December, indicating a downward trend in industry, even with a slight acceleration trend compared to the previous month. The year 2024 thus ended as it had begun, with only minor fluctuations in the pace of the downturn during the year”, says UniCredit Bank Austria Chief Economist Stefan Bruckbauer, adding: “Domestic industry has been in a stubborn recession for two and a half years now. Following the 1.1 per cent slump in industrial production in 2023, manufacturing in Austria is even expected to record an average decline of 4 per cent in real terms in 2024.”
- The UniCredit Bank Austria Purchasing Managers' Index fell to 43.3 points in December
- Production cutbacks accelerated as a result of the sharp decline in new business
- Austrian industry continued to reduce its workforce significantly in December
- Output prices fell more sharply than input prices: average earnings situation deteriorated again
- Falling production requirements were reflected in a reduction in purchasing volumes and a decrease in stocks of purchases
- Reduction in stocks of finished goods underlined the continuing pessimism of domestic companies
- Austrias industry starts the new year with declining production expectations
UniCredit Bank Austria Purchasing Managers' Index (PDF)
as of December, 2024.
About UniCredit Bank Austria Purchasing Managers' Index
The UniCredit Bank Austria Purchasing Managers' Index offers an evaluation of the economic situation of Austrian industry by selected purchasing managers.
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