BRUSSELS (dpa-AFX) - Austria's manufacturing activity expanded at the strongest pace in more than four years in October, survey results from S&P Global showed Wednesday.
The UniCredit Bank Austria manufacturing purchasing managers' index rose to 55.9 in October from 54.9 in the previous month. This was the highest score since May 2022.
The accelerated growth in October was driven by robust rises in output and new orders, both growing at the fastest pace since early 2022, linked to stronger demand and growing investment spending in the wider economy and abroad.
Firms raised their staffing numbers amid signs of capacity pressures building and positive expectations for production in the year ahead. Rising production requirements forced firms to scale up purchasing activity at the quickest rate over four years.
On the price front, input price inflation accelerated to a 4-month high amid increased energy and transport costs along with adverse supply chain conditions. Nonetheless, input price inflation eased to a 3-month low.
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