Austria: Industry rebounds in April
June 25, 2013
In April, industrial production grew a seasonally adjusted 2.7% over the previous month. The print contrasts the 2.1% contraction tallied in March. Expansions in mining and quarrying as well as in water supply, sewerage and waste management were the most important drivers behind the monthly rise.
Compared to the same month last year, industrial output swung from minus 1.5% in March to 0.7% in April in working day adjusted terms. Despite the higher print, annual average growth in industrial output edged down from 1.9% in March to 1.8% in April.
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