Austria: Decline in turnover for service enterprises (-5.5%) and trade (-4.1%)

In the first quarter of 2020, the turnover of Austrian service enterprises decreased by 5.5% compared to the same quarter of the previous year, as Statistics Austria reports.

The main reason for this decline is the shutdown of a large part of the enterprises as part of the measures to contain the corona pandemic.

In the first quarter of 2020, Austrian retailers recorded a nominal sales decline of 4.1%, resulting in a 4.2% decrease in sales volume compared to the same quarter of the previous year.

The smallest losses (-0.9% in nominal terms or -1.9% in real terms) were recorded in the retail trade, followed by wholesale trade with a decrease in sales volume of 2.5%. Adjusted for inflation, this represents a decrease of 1.4%.

The motor trade recorded a sharp decline in sales compared to the first quarter of 2019, with -16.4% in nominal terms and -18.3% in real terms, in line with the available registration figures.

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