India, Feb. 26 -- Austria's manufacturing contraction softened amid slower declines in both production and new orders, survey results from S&P Global showed on Wednesday.
The UniCredit Bank Austria Manufacturing Purchasing Managers' Index rose to a 2-year high of 46.7 in February from 45.7 in January. However, any score below 50.0 suggests contraction.
Output fell at the weakest pace since May last year, and new orders decreased only modestly and at the joint-slowest decline in the current 34-month sequence of falling demand. Export demand was not favourable as inflows of new work from abroad fell at a robust pace, especially from Europe.
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