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Austria Industrial production June 2023

Austria: Industrial output deteriorates in June

Industrial output slid 1.4% in month-on-month seasonally adjusted terms in June, matching May’s 1.4% decrease. Looking at the details of the release, the contraction came on the back of capital goods and non-durable consumer goods production deteriorating from the prior month. However, durable consumer goods production decreased at a more moderate pace.

On an annual basis, factory output fell at a more pronounced rate of 3.3% in June (May: -2.0% yoy), the worst result since January 2021. Accordingly, the trend pointed down, with annual average industrial production growth falling to 2.0% in June (May: +3.0%), which marked an over two-year low.

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