Financial News: Austria Production Index Declines At Slower Pace

Austria Production Index Declines At Slower Pace

09/10/2024 - 08:07:00 (RTTNews)

(RTTNews) - Austria's production index posted a slower decline in July, figures from Statistics Austria showed on Tuesday.

The production index for industry and construction fell 1.1 percent on a yearly basis, slower than the 3.3 percent decrease in June.

Industrial output was down 0.9 percent and construction output decreased 1.7 percent. Within main industrial groupings, output of consumer durables logged the biggest annual fall of 14.0 percent. This was followed by a 3.4 percent drop in intermediate goods and 1.7 percent fall in capital goods output.

Meanwhile, production of energy and consumer non-durables grew 8.3 percent and 4.5 percent, respectively.

Month-on-month, the production index grew 1.3 percent in July, which was faster than the 0.2 percent increase seen in June.

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