Austria: Industrial production contracts in June
August 25, 2017
In June, industrial production contracted 0.1% over the previous month in seasonally adjusted terms, contrasting May’s 0.4% expansion. June’s deterioration was driven by the water supply sector swinging to contraction and the mining sector falling deeper into contractionary territory. This largely offset solid performances in the manufacturing and energy sectors, which both swung back into expansion.
In annual terms, industrial production grew 4.5% in June, which was below the 4.7% registered in May. However, annual average growth in industrial production in June was 2.7%, up from May’s 2.4%.
Author: Christopher Mc Innes, Economist