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Industrial production expands in Austria in August

Staff 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
This contrasted the revised 0.5% contraction recorded in July (previously reported: -0.6% month-on-month).

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.