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Austrian Industry Falls into Recession
Bank Austria’s Purchasing Managers’ Index shows a further deterioration of the economic situation. A slight recession is expected for the next months.
Austrian Industry Falls into Recession / Picture: © Vindobona.org
The Austrian economy is sputtering: The industry faced a significant drop in new orders in October and for the first time in two years the purchase and selling prices both dropped. This is the result of Bank Austria’s monthly Purchasing Managers’ Index.
For the months to come the bank’s analysts even expect a slight recession in the domestic industry. Thanks to a strong…
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