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.
Author: Jan Lammersen, Economist