Austria Industry July 2016

Austria

Austria: Industrial production contracts in July

September 23, 2016

In July, industrial production fell 0.6% over the previous month in seasonally-adjusted terms. This contrasted the revised 0.5% expansion recorded in June (previously reported: +0.1% month-on-month). July’s result was largely driven by steeper contractions in the manufacturing sector, as well as in the mining and quarrying sector.

In annual terms, industrial production contracted 0.3% in July, which contrasted the revised 1.5% expansion recorded in June (previously reported: +0.9% year-on-year). Annual average growth in industrial production in July was 1.6%, which was slightly lower than June’s 1.8%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.9% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects that industrial production will increase 2.0%.


Author:, Economist

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Austria Industry July 2016

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Statistics Austria (STAT) and FocusEconomics calculations.


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