Austria Industrial production July 2022

Austria

Austria: Industrial activity records largest drop in over two years in July

September 9, 2022

Industrial output dropped 3.9% in month-on-month seasonally-adjusted terms in July, which was a deterioration from June's 0.8% decrease. The outturn marked the worst reading since April 2020. The reading reflected a broad-based downturn across the major sectors, with durable consumer goods, capital goods and non-durable consumer goods all contracting in July.

On an annual basis, industrial production rose at a more moderate pace of 5.1% in July (June: +10.5% yoy), the worst result since October 2021. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at 8.2%, down from June's 8.3% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will rise 6.4% in 2022. For 2023, the panel expects that industrial production will grow 0.5%.


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Austria Industrial production Chart


Austria Industry July 2022

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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