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Financial News: Austria Wholesale Prices Grow; Trade Deficit Narrows

Austria Wholesale Prices Grow; Trade Deficit Narrows

02/07/2020 - 06:23:00 (RTTNews)

(RTTNews) - Austria's wholesale prices rose for the first time in eight months in January, and the trade deficit decreased in November, data from the from Statistics Austria showed on Friday.

The wholesale price index rose 0.7 percent year-on-year in January, after a 0.4 percent fall in December.

Prices for living animals grew 17.2 percent annually in January and watches and jewelry increased 11.4 percent. Prices for agricultural machinery, equipment and accessories rose 4.4 percent and those of petrol and paint gained by 4.2 percent and 4.0 percent, respectively.

On a month-on-month basis, the wholesale prices increased 0.5 percent in January, following a 0.1 percent rise in the prior month.

Data also showed that the trade deficit narrowed to EUR 263.8 million in November from EUR 777.6 million in the same month last year.

Exports declined 4.1 percent annually in November and imports fell 7.5 percent.

Trade with EU nations resulted in a trade deficit of EUR 416.33 million in November compared to EUR 675.10 million in the same month last year.

For the January to November period, the trade deficit was EUR 4.15 billion. Exports and imports rose by 2.4 percent and 1.6 percent, respectively.

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