Austria: Industrial production swings to contraction in February
April 24, 2015
In February, industrial output fell a seasonally-adjusted 0.8% over the previous month. The result contrasted January’s 1.0% increase and marked a six-month low. February’s contraction was the result of an almost across-the-board deterioration as manufacturing, mining and quarrying, as well as electricity and gas all swung to contractions from expansions in the previous month. In contrast, water supply output rebounded from a contraction in January to an expansion in February.
Compared to the same month of the previous year, industrial production contracted a working-day adjusted 0.2% in February, which was up from the 0.5% fall observed in January and marked the highest result in eight months. Despite February’s slight improvement, annual average growth in industrial production fell from minus 0.7% in January to minus 0.9% in February.