Russia: Industrial output records lowest expansion in over a year in June
Industrial output rose 1.9% year on year in June (May: +5.3% yoy). The result marked the worst reading since March...
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 2014 to 2023.
Source: Macrobond.
Austria Industry Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | 1.5 | -5.3 | 9.1 | 4.2 | -0.1 |
Industrial output declines in May
Industrial output slid 1.4% in month-on-month seasonally adjusted terms in May, which contrasted April's 0.7% increase. Looking at the details of the release, May's drop was largely driven by sharper falls in durable consumer goods, capital goods and intermediate goods output. Furthermore, production in the non-durable consumer goods sub-sector swung into contraction. On an annual basis, industrial production fell 4.1% in May, which was below April’s 2.6% fall. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5% in May, down from April's minus 2.2% reading.
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 5 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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