Austria's manufacturing PMI rises to 46.3 in May, signaling a slowdown in contraction rate.
Austria's manufacturing sector shows signs of recovery in May, as indicated by the latest Unicredit Bank Austria Manufacturing PMI data. The PMI rose to 46.3 from 43.5 in April, albeit still below the 50 mark, signaling ongoing contraction. The improvement is attributed to a slowdown in the rate of decline in output and new orders, providing cautious optimism for the sector's stability amid broader economic challenges.
May 28, 2024
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