Austria Industry October 2019

Austria

Austria: Industrial production accelerates notably in October

December 23, 2019

Industrial production rose 0.7% month-on-month in October, notably up from the 0.2% expansion logged in September and opening the final quarter of 2019 on a strong footing. The strong rise in output was driven by an across-the-board solid performance, with production of capital goods, consumer durables and consumer non-durables all growing steadily. Capital goods and consumer durables production swung from notable contractions in the prior month. Furthermore, this offset a steep drop in energy output.

Meanwhile, industrial output fell 1.0% year-on-year in October, down from the revised 0.4% drop in September (previously reported: -0.5% year-on-year), and annual average industrial production growth moderated notably from 3.3% in September to 2.7% in October.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.2% in 2020, which is unchanged from last month’s forecast. For 2021, the panel expects that industrial production will grow 1.9%.


Author:, Economist

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Austria Industry October 2019 0

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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