Austria Industrial production July 2020

Austria

Austria: Industrial output growth ebbs in July

September 25, 2020

Industrial production expanded 5.0% in July (June: +7.0% ). July's reading was due to softer growth in durable consumer goods, non-durable consumer goods, and intermediate goods production.

On an annual basis, factory output declined 4.4% in July, a smaller than June’s 8.7% fall and marked the best result since February. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.3%, down from June's minus 4.9%.

FocusEconomics Consensus Forecast panelists project that industrial production will drop 9.1% in 2020. For 2021, the panel expects that industrial production will grow 6.1%.


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Austria Industry July 20 20

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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