Austria: Industrial production strengthens in May
July 24, 2012
In May, industrial production expanded a seasonally and working-day adjusted 2.6% over the same month last year, which was stronger than the 1.5% increase recorded in April. The print marked the fastest pace of expansion since November 2011. The May acceleration reflected a rebound in manufacturing output as well as strong production of energy. On a monthly basis, industrial production expanded a seasonally adjusted 0.7% over the previous month, which was below the 1.0% expansion recorded in April. Despite the May acceleration, the trend continues its downward trajectory, with annual average growth in industrial production falling from 3.4% in April to 3.0% in May, the weakest expansion seen since October 2010.
Author: Ricardo Aceves, Senior Economist