Austria: Industrial output improves in October
Industrial output declined 0.6% month-on-month in seasonally-adjusted terms in October (September: -1.2% mom). The softer contraction was due to stronger non-durable consumer goods production. Meanwhile, durable consumer goods production weakened at the outset of Q4.
On an annual basis, industrial production rose at a more moderate pace of 3.9% in October (September: +5.9% yoy). Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 7.6% in October, down from September’s 7.7% reading.