UniCredit Bank Manufacturing PMI in Austria

Austria's Manufacturing PMI is a monthly S&P Global survey, sponsored by UniCredit Bank Austria, of purchasing managers in the country's manufacturing sector. It is a diffusion index: a reading above 50 signals expansion in industrial activity and below 50 signals contraction.

A weighted composite of five sub-indices: New Orders, Output, Employment, Suppliers' Delivery Times and Stocks of Purchases, using seasonally adjusted data. Austria publishes no flash reading and releases the data early, towards the end of the month it covers.

It is an early read on the Austrian industrial cycle and, since Austria is deeply integrated into the German supply chain, it is watched as an additional leading indicator for euro-area manufacturing, with the advantage of appearing before most others.

It is a qualitative survey: it captures the direction of change, not its magnitude. Austria has no dedicated services PMI or flash reading, unlike the euro area's larger economies, and the seasonal adjustment factors are revised from time to time.