Industrial production expands in Austria in AugustStaff Writer | October 26, 2016
In August, industrial production in Austria expanded 1.6% over the previous month in seasonally-adjusted terms.
Europe A return to growth in the manufacturing sector
August’s result was largely driven by a return to growth in the manufacturing sector, as well as an acceleration in the water supply sector, FocusEconomics reports.
In annual terms, industrial production grew 2.3% in August, which contrasted the 0.3% contraction recorded in July. Annual average growth in industrial production in August was 1.6%, which was in line with July’s result.
FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.1% in 2016, which is up 0.2 percentage points from last month’s forecast.
For 2017, the panel expects that industrial production will increase 2.0%, which is unchanged from last month’s estimate. ■