Austria Industrial production May 2021


Austria: Industrial output records slowest expansion since December 2020 in May

July 9, 2021

Industrial output grew 0.1% in month-on-month seasonally-adjusted terms in May, which followed April's 0.2% increase. May's result marked the worst reading since December 2020. May's slowdown was largely due to a deterioration in durable consumer goods output. In addition, capital goods output fell sharply.

On an annual basis, factory output rose at a more moderate pace of 23.4% in May (April: +33.8% yoy). Meanwhile, the trend improved significantly, with the annual average growth of industrial production coming in at plus 4.1% in May, up from April's 0.9% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will rise 9.2% in 2021, which is up 2.2 percentage points from last month’s forecast. For 2022, the panel expects that industrial production will grow 4.6%.


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Austria Industrial production Chart

Austria Industry May 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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