Austria: Industry drops in May
July 25, 2013
In May, industrial production fell a seasonally adjusted 1.4% over the previous month. The figure contrasts the 3.1% rise tallied in April and was mainly influenced by a contraction in water supply, sewerage and waste management as well as in manufacturing.
Compared to the same month last year, industrial production swung from a 1.3% increase in April to a 1.1% drop in May. As a result, annual average growth in industrial production dropped from 1.8% in April to 1.5% in May.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.1% this year, which is down 0.4 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 3.3%.
Author: Ricardo Aceves, Senior Economist