Austria's manufacturing sector contraction slowed in December, as output returned to growth and new orders fell at a weaker rate, survey figures from Markit Economics showed Tuesday.
The Bank Austria manufacturing purchasing managers' index, or PMI, rose to 49.2 in December from 47.4 in the previous month. Any reading below 50 indicates contraction in the sector. The latest score was the highest in four months.
Manufacturing production gained positive momentum in December, halting a three-month period of continuous decline, though the rate of expansion was only marginal.
New work received by goods producers fell further during the month, but the rate of contraction slowed since November and was the weakest in five months.
As a result of weak new orders, firms decreased their purchasing activity and staffing levels in December.
On the price front, input prices declined again in December amid reports of lower oil prices. The rate decline was the strongest in eight months. Falling costs resulted in the decline of output prices.
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