A city on a lake in Austria

Austria Industry

Austria Industry

Industrial Production in Austria

The Austrian economy recorded an average growth rate of 2.6% in industrial production in the decade leading to 2022. This is above the 1.1% Euro Area average. In 2022, industrial production growth was 5.9%. For more industry information, visit our dedicated page.

Austria Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Austria from 2016 to 2015.
Source: Statistics Austria.

Austria Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 5.2 1.5 -5.3 9.5 5.9

Industrial activity declines at a softer pace in December

Industrial output fell 0.7% month on month in seasonally adjusted terms in December, which was an improvement from November’s 2.1% decrease. Looking at the details of the release, intermediate goods output rebounded to a 19-month high. That said, output of both durable consumer goods and capital goods dropped at a faster pace in December, and nondurable consumer goods output rose at a softer clip. On an annual basis, industrial production fell 5.5% in December (November: -6.1% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 1.2% in December, down from November's minus 0.6%.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Austrian industry projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Austrian industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Austrian industry projections.

Want to get access to the full dataset of Austrian industry forecasts? Send an email to info@focus-economics.com.

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