Austria Industrial production April 2020

Austria

Austria: Industrial activity nosedives in April

June 25, 2020

Industrial output decreased 15.1% in month-on-month terms in April, which was a larger contraction than March's 7.0% decrease.

April's weakening was broad-based, as output of non-durable consumer goods; durable consumer goods; capital goods; intermediate goods; and energy all collapsed.

On an annual basis, industrial production fell at a more pronounced rate of 21.4% in April (March: -9.6% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.7%, down from March's minus 0.7%.

FocusEconomics Consensus Forecast panelists project that industrial production will drop 7.9% in 2020. For 2021, the panel expects that industrial production will grow 5.4%.


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Austria Industrial production Chart


Austria Industry April 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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