GDP in Austria
Austria - GDP
According to more comprehensive data released by the Austrian Institute of Economic Research (WIFO) on 28 February, the economy grew at a stable pace in the final quarter of 2016. GDP increased a seasonally-adjusted 0.5% in Q4 compared to the previous quarter, in line with Q3’s GDP outturn and the flash estimate for Q4 released in mid-February.
Q4’s expansion was supported by steady growth in domestic demand. Private consumption grew 0.5% over the previous quarter, which was just below Q3’s 0.6% expansion—a multi-year high—but still above average. Government consumption growth inched up a notch, accelerating to 0.4% (Q3: +0.3% quarter-on-quarter). Total investment growth slowed slightly, falling to 0.9% after having grown 1.0% in Q3. Total investment was dragged down by sagging fixed investment growth, which was flat in Q4 (Q3: +0.2% qoq), although a rebuilding of inventories contributed to investment growth.
On the external side of the economy, exports of goods and services rose 0.1% qoq, which was on par with Q3’s increase. Imports grew 0.3% in Q4, also stable from Q3’s expansion. As a consequence, the net contribution from the external sector was slightly negative, costing the headline GDP figure 0.1 percentage points.
Compared to the same period last year, the economy grew 1.7% in Q4, which was above Q3’s 1.3% rise and represented the fastest pace of growth since Q3 2011. For 2016 as a whole, GDP growth came in at 1.5%, above the 1.0% seen in 2015.
WIFO expects the economy to grow 1.7% both this year and next. FocusEconomics panelists project that the economy will grow 1.3% in 2017, which is unchanged from last month’s estimate. For 2018, panelists expect the economy to grow 1.5%.
Austria - GDP Data
|Economic Growth (GDP, annual variation in %)||2.8||0.7||0.1||0.6||1.0|
5 years of economic forecasts for more than 30 economic indicators.
Austria GDP Chart
Source: Austrian Institute of Economic Research (WIFO).
|Bond Yield||0.56||-4.40 %||May 10|
|Exchange Rate||1.09||-0.20 %||May 10|
|Stock Market||3,076||-0.34 %||May 10|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
March 30, 2017
In March, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 56.8, just below February’s 57.2 and January’s 57.3, which had marked a nearly six-year high.
March 24, 2017
In January, industrial production in Austria fell 1.7% over the previous month in seasonally adjusted terms, which was below December’s 1.2% contraction and the lowest reading since July 2014.
February 28, 2017
According to more comprehensive data released by the Austrian Institute of Economic Research (WIFO) on 28 February, the economy grew at a stable pace in the final quarter of 2016.
February 27, 2017
In February, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 57.2.
February 24, 2017
In December, industrial production fell 1.6% over the previous month in seasonally adjusted terms.