Austria Industrial production

Austria

Austria: Industrial production plummets in May

July 25, 2014

In May, industrial output plunged a seasonally-adjusted 2.2% over the previous month. The reading contrasted the 0.6% increase observed in April. The most important drivers behind the monthly contraction were decreases in manufacturing production and in mining and quarrying.

Compared to the same month last year, industrial production swung from a working-day adjusted 0.1% increase in April to a 2.1% contraction in May, which marked the fastest contraction on record. As a result of the deterioration registered in May, annual average growth in industrial production fell from 0.8% in April to 0.6% in May, which is the lowest level since December 2013.

Focus FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.9% this year, which is unchanged from last month’s forecast. For 2015, participants expect industrial output to pick up to 3.6%.


Author:, Senior Economist

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Austria Industrial production Chart


Austria Industry May 2014

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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