Austria: Industrial production expands at the fastest pace in four years
April 22, 2011
In February, industrial production rose a working day adjusted 8.9% over the same month the previous year, which was above the 8.5% expansion witnessed in January. The reading marked the fastest pace of expansion in industrial production since March 2007. Strong growth in public utilities as well as in the production of non-durable goods were the main drivers behind the February acceleration. A month-on-month assessment confirms the strong growth suggested by the annual figures, as industrial production grew 1.6% in February in seasonally adjusted terms, which was more than double the 0.6% increase observed in January. As a result of the February expansion, the trend continues to point to a strong recovery in the industrial sector, with annual average growth in industrial output rising from 5.1% in January to 5.7% in February.
Author: Ricardo Aceves, Senior Economist