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Austria industrial production contracts in June

Austria industrial productionIn June, industrial production contracted 0.1% over the previous month in seasonally adjusted terms, contrasting May’s 0.4% expansion.

June’s deterioration was driven by the water supply sector swinging to contraction and the mining sector falling deeper into contractionary territory.

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This largely offset solid performances in the manufacturing and energy sectors, which both swung back into expansion.

In annual terms, industrial production grew 4.5% in June, which was below the 4.7% registered in May. However, annual average growth in industrial production in June was 2.7%, up from May’s 2.4%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.8% in 2017, which is up 0.2 percentage points from last month’s forecast.

For 2018, the panel expects that industrial production will increase 2.6%.




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