Austria: Industry expands for second consecutive month
September 26, 2013
In July, industrial production rose a seasonally-adjusted 0.5% over the previous month. The print came in above the 0.1% rise recorded in June and marks a second consecutive month of increase. The reading was mainly influenced by a rise in manufacturing output as well as in water supply, sewerage and waste management.
Compared to the same month last year, industrial output contracted 0.9% in July (June: -0.3% year-on-year). Owing to the contraction, annual average growth in industrial output fell from 1.4% in June to 1.0% in July.
FocusEconomics Consensus Forecast panelists 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