Austria: Industrial production contracts in May
July 25, 2016
In May, industrial production decreased 1.5% over the previous month in seasonally-adjusted terms. This marked a sharper fall than the revised 0.9% contraction recorded in April (previously reported: -0.8% month-on-month) and the worst result since July 2014. May’s contraction was driven by a decrease in all sectors except for mining and quarrying.
In annual terms, industrial production grew 0.8% in May, which marked a substantial deceleration over the revised 2.7% expansion recorded in April (previously reported: +2.4% year-on-year). Annual average growth in industrial production in May was 1.5%, which was slightly higher than April’s 1.4% and the highest result in almost three years.