Austria: Industrial production drops in July
September 25, 2018
Industrial production contracted 0.5% in July over the previous month, matching June’s revised reading (previously reported: -1.5% month-on-month). July’s print reflected contractions in the production of intermediate goods and capital goods, which offset robust growth in the output of durable consumer goods; energy; and non-durable consumer goods.
Year-on-year growth reached 3.1% in July on a working-day adjusted basis, which is down from June’s revised 5.9% expansion (previously reported: +5.0% year-on-year). Lastly, annual average growth in industrial production edged down to 5.8% in July from June’s 6.0%.
Austria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 5.7% in 2018, which is up 0.4 percentage points from last month’s forecast. For 2019, the panel expects that industrial production will grow 3.3%, up 0.2 percentage points from last month.
Author: Jan Lammersen, Economist