Austria Industrial production December 2020

Austria

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.

FocusEconomics Consensus Forecast panelists project that industrial production will rise 6.4% in 2021. For 2022, the panel expects that industrial production will grow 5.0%.


Author:, Economist

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Austria Industry December 20 20

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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