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Austria Industrial production November 2023

Austria: Industrial output dips in November

Industrial output dropped 1.0% in month-on-month seasonally adjusted terms in November, which was a deterioration from October’s 0.6% decrease. Looking at the details of the release, the downturn was driven by durable consumer goods output shrinking in November and intermediate goods output falling at a faster rate. Meanwhile, capital goods output decreased at a more moderate rate.

On an annual basis, industrial output fell at a sharper rate of 4.3% in November (October: -2.2% yoy), the worst result since June 2020. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 0.5% in November, contrasting October’s plus 0.3% reading.

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