Austria: Industry drops in August
October 25, 2013
In August, industrial production fell a seasonally-adjusted 0.5% over the previous month. The decrease contrasts the 1.4% rise observed in July and was mostly the result of a decline in water supply, sewerage and waste management, as well as in electricity, gas, steam and air conditioning supply.
Compared to the same month last year, industrial output swung from 0.6% in July to minus 1.4% in August. Reflecting the lower figure, annual average growth in industrial output dropped from 1.0% in July to 0.5% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 0.5% this year, which is unchanged from last month's forecast. For 2014, panel participants expect industrial output to pick up to 2.8%, which is down 0.1 percentage points from last month's estimate.
Author: Ricardo Aceves, Senior Economist