Austria: Industrial output returns to growth in January
March 25, 2021
Industrial output grew 2.4% month-on-month on a seasonally-adjusted basis in January, contrasting the 3.5% contraction recorded in December. The print marked the best result in six months and was driven by a return to growth in the output of intermediate goods, durable consumers goods and non-durable consumer goods. Capital goods output swung to contraction, however.
On an annual basis, however, factory output fell a more pronounced 3.8% in January (December: -2.9% year-on-year), marking the worst outturn since July last year. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.9% in January, down from December's minus 5.8% reading.
Author: Jan Lammersen, Economist