Austria: Industrial production expands in January
March 25, 2012
In January, industrial production grew a working-day adjusted 1.7% over the same month last year, which represented an improvement compared to the flat reading recorded in December. The January expansion reflected stronger growth in manufacturing production as well as in electricity, gas and steam supply. In addition, growth in construction activity accelerated, despite the harsh winter conditions at the beginning of the year. A month-on-month comparison confirms the improvement suggested by the annual data, as industrial output expanded a seasonally adjusted 2.5% in January, which contrasted the 2.6% contraction observed in December. Despite the January expansion, however, the trend continues to point downwards, with annual average growth in industrial production falling from 5.9% in December to 5.4% in January.
Author: Ricardo Aceves, Senior Economist