Austria Industrial production

Austria

Austria: Industrial production plummets to six-month low in August

October 24, 2014

In August, industrial output contracted a seasonally-adjusted 2.1% over the previous month. The reading followed the revised 0.7% decrease observed in July (previously reported: -1.0% month-on-month) and marked the sharpest fall since February. August’s deterioration was mainly caused by a sharp decrease in manufacturing output. Water supply decreased also in August, albeit at a slower pace. Only growth in mining and quarrying as well as electricity and gas supply improved over July.

Compared to the same month last year, industrial production plummeted from a working-day adjusted 0.9% decrease in July to a 3.7% contraction in August, which is the sharpest contraction on record. As a result of the deterioration registered in August, annual average growth in industrial production fell from 0.6% in July to 0.4% in August.

Focus FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.4% this year, which is down 0.5 percentage points from last month’s forecast. For 2015, participants expect industrial output to pick up to 2.7%.


Author:, Senior Economist

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Austria Industrial production Chart


Austria Industry August 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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