Austria: Growth in industrial production output picks up in May
July 25, 2018
Industrial production expanded 1.6% over the previous month in May, picking up significant speed from April’s revised 0.2% month-on-month expansion (previously reported: +1.0% month-on-month). The result came on the back of stronger growth in the manufacturing sector and a rebound in the energy sector. However, activity growth in the mining sector moderated, while the water supply sector logged a sharp contraction.
On an annual, working-day adjusted basis, industrial output grew 6.2%, which was up from April’s revised 4.6% expansion (previously reported: +5.9% year-on-year). Lastly, annual average growth in industrial production edged up from a revised 5.7% in April (previously reported: +5.8%) to 5.8% in May.
Austria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 5.3% in 2018, which is up 0.5 percentage points from last month’s forecast. For 2019, the panel expects that industrial production will grow 3.0%.
Author: Jan Lammersen, Economist
