Austria: Industrial production plunges in January
March 24, 2017
In January, industrial production in Austria fell 1.7% over the previous month in seasonally adjusted terms, which was below December’s 1.2% contraction and the lowest reading since July 2014. January’s deterioration was driven by deeper contractions in the manufacturing and water supply sectors, more than offsetting solid growth in the mining and quarrying, and electricity and gas sectors.
In annual terms, industrial production fell 1.1% in January, which was down from the 3.2% expansion recorded in December and the worst result since July 2014. Annual average growth in industrial production in January was 1.4%, down from December’s 1.7%.
Author: Christopher Mc Innes, Economist