Austria: Industrial production contracts in December
February 24, 2017
In December, industrial production fell 1.6% over the previous month in seasonally adjusted terms. This contrasted the 0.9% expansion recorded in November and represented the lowest reading since July 2017. December’s deterioration was broad-based, with the manufacturing, mining and quarrying, and electricity and gas sectors contracting after having all expanded in the previous month. The water supply sector also contracted, albeit at a slower pace than in November.
In annual terms, industrial production grew 2.1% in December, which was down from the 3.6% expansion recorded in November. Annual average growth in industrial production in December was 1.6%, above November’s 1.4% mark and the highest print since April 2013..
Author: Christopher Mc Innes, Economist