Austria: Industrial production records second consecutive contraction in March
May 22, 2015
In March, industrial output fell a seasonally-adjusted 0.8% over the previous month. The result followed February’s 0.5% contraction and marked a seven-month low. March’s figure was the result of an almost across-the-board deterioration as manufacturing, water supply output, as well as electricity and gas all swung to contractions from expansions in the previous month. In contrast, mining and quarrying rebounded from a contraction in February to an expansion in March.
Compared to the same month of the previous year, industrial production grew a working-day adjusted 0.8% in March, which was up from the 0.4% increase observed in February and marked the highest result in nine months. Despite March’s improvement, annual average growth in industrial production remained unchanged at February’s minus 0.9%.