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Financial News: Austria Wholesale Prices Fall; Trade Deficit Narrows

Austria Wholesale Prices Fall; Trade Deficit Narrows

08/07/2020 - 08:49:00 (RTTNews)

(RTTNews) - Austria's wholesale prices declined for the sixth straight month in July, and the trade deficit decreased in May, data from the from Statistics Austria showed on Friday.

The wholesale price index fell 4.6 percent year-on-year in July, following a 5.1 percent fall in June.

Prices for petroleum products declined 30.5 percent annually in July and those of old and residual materials decreased 16.2 percent.

Meanwhile, prices of watches and jewelry grew 14.2 percent and those of chemicals gained 4.0 percent.

On a month-on-month basis, the wholesale prices increased 0.9 percent in July, following a 1.4 percent rise in the prior month.

Data also showed that the trade deficit narrowed to EUR 457.59 million in May from EUR 472.26 million in the same month last year.

Exports declined 25.5 percent annually in May and imports fell 24.8 percent.

Trade with EU nations resulted in a trade deficit of EUR 556.85 million in July compared to EUR 337.43 million in the same month last year.

For the January to May period, the trade deficit was EUR 1.08 billion. Exports and imports decreased by 14.3 percent and 12.9 percent, respectively.

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