Austria: Industrial output deteriorates in February
April 25, 2014
In February, industrial production contracted a seasonally-adjusted 2.6% over the previous month. The figure contrasted the 3.5% rise observed in January. The most important drivers behind the monthly decline were the contractions registered in mining and quarrying and in manufacturing.
Compared to the same month last year, industrial output slowed from a 5.4% increase in January to 1.9% expansion in February. In spite of the subdued figure, annual average growth in industrial output remained stable over previous month at 0.7% in February.
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 2015, participants expect industrial output to pick up to 3.3%.
Author: Ricardo Aceves, Senior Economist