Austria: Industrial production improves in August
October 25, 2011
In August, industrial production expanded a working-day adjusted 5.6% over the same month last year, which represented a slight improvement over the 5.4% increase recorded in September. Faster growth in manufacturing, particularly in investment goods production, was the main driver behind the August expansion. On a month-on-month seasonally adjusted basis, industrial output grew 1.1% over the previous month, which contrasted the 0.7% contraction observed in July. Despite the August expansion, the trend continues to point to a less dynamic performance in the industrial sector, with annual average growth in industrial production inching down from 7.0% in July to 6.8% in August the slowest pace since September 2010.
Author: Ricardo Aceves, Senior Economist