BRUSSELS (dpa-AFX) - Austria's manufacturing activity deteriorated further in April amid an accelerated decline in new orders, survey results from S&P Global showed on Monday.
The UniCredit Bank Austria Manufacturing Purchasing Managers' Index dropped to a 3-month low of 46.6 in April from 46.9 in March. Any score below 50.0 suggests contraction.
New orders fell sharply in April due to widespread hesitancy amongst clients amid a backdrop of economic and geopolitical uncertainty. Foreign demand was also weaker as new export orders fell at a faster pace.
Despite falling further, output declined at the slowest pace in the current downturn, which began midway through 2022. Similarly, the pace of job shedding eased to the softest level in almost two years.
On the price front, input prices showed a slight increase in April, led by higher energy and raw material costs along with wage pressures. Nonetheless, both input and output price inflation moderated.
Looking ahead, business expectations over the next year improved amid hopes of upturns in both investment and in the economy generally.
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