Austria: Industrial production accelerated in January
March 25, 2019
Industrial output expanded a strong 1.9% month-on-month in January, up from December’s strongly revised 1.3% expansion (previously reported: -0.2% month-on-month). The pick-up in pace was broad-based with robust growth in the output of capital goods; consumer non-durables; intermediate goods; and energy. On the other, consumer durables contracted at a sharp pace.
In year-on-year terms, the pace of growth in industrial production nearly doubled from December’s revised 4.4% increase (previously reported: +1.8% year-on-year)) to an 8.2% rise in January. Annual average growth in industrial output edged up to 4.9% in January from 4.8% in December.
Austria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.7% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel expects that industrial production will grow 2.4%.
Author: Jan Lammersen, Economist