Austria: Industrial activity declines at a softer pace in December
Industrial output fell 0.7% month on month in seasonally adjusted terms in December, which was an improvement from November’s 2.1% decrease. Looking at the details of the release, intermediate goods output rebounded to a 19-month high. That said, output of both durable consumer goods and capital goods dropped at a faster pace in December, and nondurable consumer goods output rose at a softer clip.
On an annual basis, industrial production fell 5.5% in December (November: -6.1% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 1.2% in December, down from November’s minus 0.6%.