Austria: Industrial production contracts in February
April 25, 2016
In February, industrial production decreased 1.1% over the previous month in seasonally-adjusted terms. The reading contrasted the revised 2.0% increase recorded in January (previously reported +1.5%). February’s deceleration and consequent contraction was driven by a large drop in the mining and quarrying sector as well as a cutback in manufacturing.
In annual terms, industrial production grew 0.4% in February, which marked a substantial slowdown over the revised 2.1% expansion recorded in January. Meanwhile, annual average growth in industrial production in February mirrored January’s revised 1.0% growth. Previously reported data for January showed 1.5% of year-on-year growth and 0.9% annual average growth.