Austria Industrial production June 2022

Austria

Austria: Industrial output drops at sharpest rate since April 2020 in June

August 10, 2022

Industrial output dropped 2.1% in month-on-month seasonally-adjusted terms in June, which contrasted May's 0.9% increase. June's figure marked the worst reading since April 2020. The notable downturn was largely due to a deterioration in durable consumer goods and non-durable consumer goods output.

On an annual basis, industrial output rose 4.6% in June, which was notably below May’s 9.6% expansion and marking the worst result since February 2021. Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 7.7% in June, down from May's 8.6% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will rise 5.2% in 2022. For 2023, the panel expects that industrial production will grow 2.3%.


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Austria Industrial production Chart


Austria Industry June 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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