Austria: Industrial production weakens in April
June 22, 2012
In April, industrial production expanded a working-day adjusted 0.4% over the same month last year, which was half the 0.8% growth rate observed in March. The reading represents the slowest pace of expansion since February and mainly reflected weaker growth in energy supply along with a deterioration in manufacturing production. A month-on-month analysis confirms the softening suggested by the annual data, as manufacturing output rose a seasonally adjusted 0.3% over the previous month, which was well below the 1.7% expansion recorded in March. As a result of the April deceleration, the trend points downwards, with annual average growth in industrial production falling from 4.1% in March to 3.3% in April.
Author: Ricardo Aceves, Senior Economist