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Austria Industrial production March 2023

Austria: Industrial output falls at sharpest rate since July 2022 in March

Industrial production declined 3.2% month-on-month in seasonally-adjusted terms in March (February: +3.3% mom). March’s outturn marked the worst reading since July 2022. Looking at the details of the release, durable and non-durable consumer goods output gained steam in March, while capital goods output swung to contraction.

On an annual basis, industrial output fell 0.4% in March (February: +5.5% yoy), the worst result since January 2021. Meanwhile, annual average industrial production growth fell to 4.7% in March (February: +5.4%), signaling a worsening trend in the industrial sector.

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