Austria Industry March 2020

Austria

Austria: Industrial production plummets in March amid Covid-19 fallout and lockdowns

May 25, 2020

Industrial output plummeted 9.5% month-on-month in March, down from February’s revised 2.7% contraction (previously reported: -2.4% month-on-month). March’s print came on the back of a double-digit drop in capital goods production, while durable and non-durable consumer goods, intermediate goods, and energy output also fell.

Compared to the same month a year prior, industrial production fell 12.1%, markedly down from February’s revised 2.8% contraction (previously reported: -2.3% year-on-year). Moreover, annual average industrial output fell 0.9%, swinging from the 0.7% expansion recorded in February.

Industrial output plummeted 9.5% month-on-month in March, down from February’s revised 2.7% contraction (previously reported: -2.4% month-on-month). March’s print came on the back of a double-digit drop in capital goods production, while durable and non-durable consumer goods, intermediate goods, and energy output also fell.

Compared to the same month a year prior, industrial production fell 12.1%, markedly down from February’s revised 2.8% contraction (previously reported: -2.3% year-on-year). Moreover, annual average industrial output fell 0.9%, swinging from the 0.7% expansion recorded in February.

FocusEconomics Consensus Forecast panelists project that industrial production will drop 9.3% in 2020. For 2021, the panel expects that industrial production will grow 5.0%.


Author:, Economist

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Brazil Industry March 20 20 1

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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