Austria: Industrial production drops markedly in December
Industrial production fell 1.4% month-on-month in December, up from the 1.7% contraction in November. The drop reflected a steep fall in capital goods production and a notable decrease in intermediate goods output, which more than offset tepid growth in durable consumer goods and robust growth in non-durable consumer goods.
Compared to the same month a year prior, industrial production sank 5.3% in December, down from the 1.7% fall in November, while annual average production growth moderated from 2.3% in November to 1.4% in December. Poor December data capped a mediocre year for the Austrian industrial sector as output grew 1.2%, the softest pace in five years (2018: +5.3% year-on-year).