Austria’s manufacturing sector growth increased in March led by a rise in output, while expectations sunk to its lowest in nearly two years due to the war in Ukraine, survey results from S&P Global showed on Tuesday.
The headline UniCredit Bank Austria manufacturing Purchasing Managers’ Index rose to 59.3 in March from 58.4 in February. Any reading above 50.0 indicates expansion in the sector.
Output increased in March, while new order inflow rose at a slower pace, due to the Russia’s invasion of Ukraine.
Backlogs of work eased and suppliers’ delivery time lengthened in March.
The overall rate of inflation was the highest in four months.
Expectations declined sharply to the lowest since June 2020, on concerns over the rising commodity prices and impact of Russia-Ukraine war.
The pace of job creation eased to the lowest in three months in March and manufacturing purchasing activity decreased.