Austria: Industrial production slows in November
January 25, 2012
In November, industrial production grew 2.5% over the same month the previous year, which represented a deceleration compared to the 3.5% expansion recorded in October. The reading marked the slowest increase since April 2010. Slower growth in manufacturing production as well as a contraction in mining and quarrying were the key drivers behind the monthly slowdown. On a month-on-month seasonally adjusted basis, industrial output remained flat over the previous month, which was down from the 0.1% increase observed in October. As a result of the November slowdown, the trend continues to point downwards, with annual average growth in industrial production declining from 6.8% in October to 6.4% in November.
Author: Ricardo Aceves, Senior Economist