Austria: Industrial production growth moderates slightly in January
March 23, 2018
Industrial production started the year on strong footing, despite a moderation in year-on-year growth from 6.6% in December to 6.1% in January. Expansions in the industry and construction subsectors were offset by notable contractions in construction and energy, leading overall industrial production to edge down in January.
On a month-on-month seasonally-adjusted basis, industrial production contracted 1.5% in February, contrasting the prior month’s 0.6% expansion. The drop was driven by a fall in output of consumer durables and non-durables, as well as energy. However, annual average growth in industrial production came in at 4.8% in January, edging up from December’s 4.3%.
Austria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.4% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel expects that industrial production will grow 2.9%.
Author: Jan Lammersen, Economist