From July to September 2020, the Austrian gross domestic product (GDP) increased by 12.0% in real terms compared to April to June (seasonal and working day adjusted). Compared to the third quarter 2019, a decline of 4.0% in real terms was recorded. The temporary easing of measures to contain the COVID-19 pandemic stimulated nearly all industries, private consumption, capital formation as well as foreign trade. Overall, however, the economy remained below the pre-crisis level.
Turnover in industry and construction decreased by 5.5% in August 2020; January to August 2020 ‑11.1%; flash estimates for October 2020 show year-on-year decrease in industry
A total of 66 674 enterprises in the entire industry and construction sector (+1.1% compared to the previous year) turned over €175.8 bn (‑11.1%) from January to August 2020. The working-day adjusted turnover for industry and construction decreased also by 11.1%. These figures coupled with a slightly decreasing employment (1 004 981 persons, ‑0.5%). In August 2020, turnover decreased by 5.5% compared to the same month of the previous year (working-day adjusted: ‑5.1%).
The industrial producer price index, IPPI 2015, reached 100.7 points in October 2020, representing a price decrease of 1.5% compared to October 2019. In September and August 2020, the annual rates of change had been ‑1.8% and ‑1.9%. Thus, the decline in prices at the producer level decelerated further in October 2020. Between September and October 2020, the industrial producer price index rose by 0.2%.
© STATISTICS AUSTRIA