Austria: Fall in industrial production continues in December
February 25, 2015
In December, industrial output fell a seasonally-adjusted 0.1% over the previous month. The result followed November’s revised flat reading (previously reported: -0.7% month-on-month). December’s decline was mainly the result of a strong contraction in mining and quarrying. Water supply, as well as electricity and gas, also recorded declines, although they were not as large as that of the mining sector. Conversely, manufacturing production posted positive growth over the previous month.
Compared to the same month of the previous year, industrial production contracted a working-day adjusted 2.6% in December, which was down from the 1.6% fall observed in November and marked the lowest result in four months. As a result of December’s contraction, annual average growth in industrial production fell from minus 0.2% in November to minus 0.5% in December.
Author: Cecilia Simkievich, Economist