Austria Industrial production January 2021

Austria

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.

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 January 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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