Austria: Industrial output drops at sharpest rate since April 2020 in June
Industrial output dropped 2.1% in month-on-month seasonally-adjusted terms in June, which contrasted May’s 0.9% increase. June’s figure marked the worst reading since April 2020. The notable downturn was largely due to a deterioration in durable consumer goods and non-durable consumer goods output.
On an annual basis, industrial output rose 4.6% in June, which was notably below May’s 9.6% expansion and marking the worst result since February 2021. Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 7.7% in June, down from May’s 8.6% reading.