Austria Industrial production April 2021

Austria

Austria: Industrial output growth loses pace in April

June 22, 2021

Industrial production expanded 1.7% month-on-month in seasonally-adjusted terms in April (March: +3.5% mom). Softer growth was largely due to a contraction in intermediate and non-durable consumer goods, while capital goods production eased. On the other hand, durable consumer goods output growth picked up pace.

On an annual basis, industrial production rose at a quicker rate of 35.9% in April (March: +13.5% yoy), the best result on record on the back of a favorable base effect as the country was in lockdown in the same month a year prior due to the onset of the Covid-19 pandemic,. Moreover, the trend improved sizably, with the annual average variation of industrial production coming in at an over one-year high of plus 1.1%, contrasting March's minus 3.7% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will rise 6.4% in 2021. For 2022, the panel expects that industrial production will grow 5.0%.


Author:, Economist

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Austria Industrial production Chart


Austria Industry April 2021

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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