BRUSSELS (dpa-AFX) - Austria's manufacturing activity expanded at the strongest pace in more than four years in September, survey results from S&P Global showed Monday.
The UniCredit Bank Austria manufacturing Purchasing Managers' Index rose to 54.9 in September from 54.4 in the previous month. This was the highest score since May 2022.
The improvement was driven mainly by new orders. The rate of growth in new orders was the fastest since January 2022. Production was ramped up to meet the sustained upturn in new orders.
Firms were strongly optimistic of production rising over the coming twelve months. However, expectations dropped slightly from August's recent high.
There was a moderate rise in employment in September as there were signs of pressure building on capacity. Manufacturers also raised their buying levels.
Regarding prices, the survey showed that input price inflation accelerated at the fastest pace since June. Average factory gate charges increased markedly but at a fractionally slower pace than in August.
Firms continued to report longer lead times on purchases. They cited shortages of electronic components as key factor behind the delays.
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