Austria: Industrial activity drops at sharpest rate since April in December
February 25, 2021
Industrial output plunged 5.6% in month-on-month seasonally-adjusted terms in December, which followed November's 0.3% decrease. December's result marked the steepest fall since April. The figure was primarily driven by a plunge in durable consumer goods output. In addition, non-durable consumer goods output contracted at a steeper rate.
On an annual basis, factory output nosedived 5.1% in December (November: +0.4% yoy), the worst result since June. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.8% in December, down from November's minus 5.6% reading.
Author: Jan Lammersen, Economist