Austria: Industrial production drops in June
August 24, 2018
Industrial production fell 1.5% month-on-month in seasonally-adjusted terms in June, ending the second quarter on a weak footing. June’s result sharply contrasted May’s revised 2.6% expansion (previously reported: +1.6% month-on-month). The decline was broad-based, with four of the five sub-categories contracting over the previous month in June. The sole category that recorded an expansion was the production of durable consumer goods, while the production of non-durable consumer goods contracted at the sharpest rate.
On an annual, working-day adjusted basis, industrial production grew 5.0%, which is down from May’s revised 6.9% expansion (previously reported: +6.2% year-on-year). Lastly, annual average growth in industrial production was stable at 5.8% in June.
Austria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 5.3% in 2018, which is unchanged from last month’s forecast. For 2019, the panel expects that industrial production will grow 3.1%.
Author: Jan Lammersen, Economist