Austria: Industrial output declines in May
Industrial output slid 1.4% in month-on-month seasonally adjusted terms in May, which contrasted April’s 0.7% increase. Looking at the details of the release, May’s drop was largely driven by sharper falls in durable consumer goods, capital goods and intermediate goods output. Furthermore, production in the non-durable consumer goods sub-sector swung into contraction.
On an annual basis, industrial production fell 4.1% in May, which was below April’s 2.6% fall. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5% in May, down from April’s minus 2.2% reading.