Austrian Manufacturing Downturn Eases In October

(RTTNews) - Austria's factory activity contracted at a slower pace in October amid an increase in output, survey data from S&P Global showed on Thursday.

The UniCredit Bank Austria Manufacturing Purchasing Managers' Index climbed to 48.8 in October from 47.6 in September. Nonetheless, any score below 50.0 indicates contraction.

Among components, output rebounded slightly, and new orders showed signs of stabilization in October. International sales dropped fractionally, as did total new business.

Austrian manufacturers continued to reduce workforce numbers despite remaining confident about future output. Moreover, the latest job shedding was the quickest in seven months.  There was also a sustained reduction in buying levels, and supplier delivery time lengthened for the fifth straight month.

On the price front, input price inflation eased from September, and selling prices declined for the sixth successive month.