Austria: Industrial production remains on positive trajectory
June 24, 2011
In April, industrial production expanded a working day adjusted 9.7% over the same month last year, which represented an improvement compared to the 9.5% increase tallied in March. The monthly reading represented the fastest expansion in more than six years. The April result reflected faster growth in manufacturing (March: +11.2% year-on-year; April: +11.5% yoy) as well as in the production of electricity, gas, steam and air conditioning (March: +11.5% yoy; April: +12.2% yoy). In addition, mining and quarrying bounced back in April and grew 7.2% after nine consecutive months of declining activity. A month-on-month comparison confirms the strong growth suggested by the annual figures, as industrial output expanded a seasonally adjusted 1.3% in April, which was well above the 0.3% increase observed in March. As a result of the April expansion, the trend continues to point to a strong recovery in the industrial sector, with annual average growth in industrial production rising from 9.1% in March to 9.5% in April.
Author: Ricardo Aceves, Senior Economist