Austria Industry May 2016


Industrial production contracts in May

In May, industrial production decreased 1.5% over the previous month in seasonally-adjusted terms. This marked a sharper fall than the revised 0.9% contraction recorded in April (previously reported: -0.8% month-on-month) and the worst result since July 2014. May’s contraction was driven by a decrease in all sectors except for mining and quarrying.

In annual terms, industrial production grew 0.8% in May, which marked a substantial deceleration over the revised 2.7% expansion recorded in April (previously reported: +2.4% year-on-year). Annual average growth in industrial production in May was 1.5%, which was slightly higher than April’s 1.4% and the highest result in almost three years.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.0% in 2016, which is up 0.1 percentage points over the previous month’s forecast. For 2017, the panel expects that industrial production will increase 1.9%.

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Austria Industry Chart

Austria Industry May 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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