Austria: Growth in industrial production picks up pace in October
December 21, 2018
Output in Austria’s industrial sector increased 1.2% over the previous month in October, up from a revised 0.8% expansion in September (previously reported: +0.2% month-on-month). The result reflected robust growth in capital goods, non-durable consumer goods and intermediate goods. Consumer durables contracted, however, in October over the previous month. This could be a spillover of the troubles in the automotive sector due to new emission regulation in the third quarter when new car registrations were down by nearly a fifth.
On an annual basis, industrial production grew a working-day adjusted 5.0% in October, up from a revised 3.5% expansion in September (previously reported: +2.6% year-on-year). Annual average growth in industrial production was stable at September’s 5.2% in October.
Austria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.2% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel expects that industrial production will grow 1.9%.
Author: Jan Lammersen, Economist