Austria: Industrial output rebounds in May
Industrial production expanded 0.7% month-on-month in seasonally-adjusted terms in May (April: -0.2% mom). Looking at the details of the release, May’s rebound was broad-based. Capital goods and non-durable consumer goods output gained steam, while durable consumer goods production contracted at a softer rate.
On an annual basis, factory output fell at a softer rate of 0.7% in May (April: -0.9% yoy). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 3.2%, down from April’s 4.0% reading.