Austria Industry November 2019

Austria

Austria: Industrial production drops markedly in November

January 24, 2020

Industrial output plummeted 1.7% month-on-month in November, contrasting the revised 0.8% expansion recorded in November (previously reported: +0.7% month-on-month). The steep drop in production reflected declines in non-durable consumer goods; capital goods; durable consumer goods; and intermediate goods. On the other hand, energy output rose in the month.

Compared to the same month a year prior, industrial production fell an even steeper 2.1%, down from the revised 0.8% year-on-year fall in October (previously reported: -1.0% year-on-year). Annual average industrial production growth slowed to 2.3% in November, from 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 November 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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