Austria Manufacturing Growth Improves In July

India, July 29 -- Austria's manufacturing sector expanded at a slightly faster pace in July on the back of strong production volumes despite a sustained drop in new orders, survey results published by S&P Global showed Wednesday.

The UniCredit Bank Austria Manufacturing Purchasing Managers' Index rose to 51.5 in July from 50.9 in June. A score above 50 indicates expansion in the sector.

Production growth quickened to the highest in over four years, while inflows of new orders fell at the steepest pace in six months, driven in large part by a deepening decline in export orders.

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