Austria: Industrial output grows at softer pace in June
Industrial output dropped 1.8% month-on-month on a seasonally-adjusted basis in June, matching May’s print. The reading was driven by a greater contraction in energy production and a decline in durable goods output being offset by stronger growth in consumer and intermediate goods as well as a return to growth in capital goods output.
On an annual basis, factory output rose at a more moderate pace of 11.3%, down from 20.6% in May. Meanwhile, the trend improved significantly, with the annual average growth of industrial production coming in at 5.5% in June, up from May’s 3.8% reading.