Austria: Industrial production accelerates notably in October
December 23, 2019
Industrial production rose 0.7% month-on-month in October, notably up from the 0.2% expansion logged in September and opening the final quarter of 2019 on a strong footing. The strong rise in output was driven by an across-the-board solid performance, with production of capital goods, consumer durables and consumer non-durables all growing steadily. Capital goods and consumer durables production swung from notable contractions in the prior month. Furthermore, this offset a steep drop in energy output.
Meanwhile, industrial output fell 1.0% year-on-year in October, down from the revised 0.4% drop in September (previously reported: -0.5% year-on-year), and annual average industrial production growth moderated notably from 3.3% in September to 2.7% in October.
Author: Jan Lammersen, Economist