Industrial Activity Is Cooling Down

BusinessEconomy ♦ Published: June 29, 2011; 17:05 ♦ (Vindobona)

Growth of Austrian industrial production has reached its lowest level since the beginning of 2010. The rate of job creation is leveling off.

Industrial Activity Is Cooling Down / Picture: ©

Bank Austria’s latest Purchasing Managers’ Index shows that industry growth has continued to slow down in June. “A lower number of new orders from Austria and abroad resulted in a reduced backlog of orders so that production growth declined significantly”, explained chief economist Stefan Bruckbauer on Wednesday. Job creation, which is still on a high level, is predicted to come…