Austria Industrial production July 2021

Austria

Austria: Industrial activity deteriorates in July

September 22, 2021

Industrial output decreased 0.2% month-on-month in seasonally-adjusted terms in July (June: +2.1% mom). The notable deterioration largely reflected a decline in capital goods and intermediate goods, while non-durable consumer goods production softened. However, durable consumer goods production accelerated.

On an annual basis, industrial output rose 9.7% in July, which was well below June’s 16.1% expansion and marked the worst result since February. Meanwhile, annual average industrial production growth rose to 6.4% in July (June: +5.2%). This signals an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project that industrial production will rise 9.2% in 2021, which is up 2.2 percentage points from last month’s forecast. For 2022, the panel expects that industrial production will grow 4.6%.


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Austria Industry July 2021

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Statistics Austria (STAT) and FocusEconomics calculations


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