Austria: Industry drops for second consecutive month in November
January 24, 2014
In November, industrial production declined a seasonally-adjusted 1.0% over the previous month. The reading followed the 0.3% decline tallied in October and marked a second consecutive fall. The decline reflects a decrease in mining and quarrying as well as in water supply, sewerage and waste management.
Compared to the same month of the previous year, industrial production swung from a 0.6% expansion in October to a 0.9% decline in November. Annual average growth in industrial production reflected the annual reading, inching down from 0.3% in October to 0.2% in November.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.1% in 2014, which is down 0.4 percentage points from last month's forecast. For 2015, participants expect industrial output to pick up to 3.3%.
Author: Ricardo Aceves, Senior Economist