GDP in Austria
Austria - GDP
Acceleration in economic activity confirmed in Q3
The Austrian economy picked up some steam in the third quarter of 2016, according to a complete data set released by the Austrian Institute of Economic Research (WIFO) on 29 November. GDP increased a seasonally-adjusted 0.4% in Q3 compared to the previous quarter. The result came in slightly above the result seen in Q2 (+0.3% quarter-on-quarter) and was the highest reading since Q1 2015.
Q3’s mild acceleration was supported by stronger growth in private consumption, which offset weaker government consumption and total investment. Domestic demand data showed that private consumption had increased 0.4% in Q3, which was up from Q2’s 0.3% expansion. Meanwhile, growth in government consumption inched down from Q2’s 0.3% to 0.2% in Q3. Total investment was also down, growing a still robust 0.9% but this was below Q2’s 1.0% pace of growth. Nevertheless, total investment remained resilient given the steep drop in fixed investment growth, which fell from 1.2% in Q2 to 0.7% in Q3.
On the external side of the economy, exports of goods and services rose 0.2% quarter-on-quarter, which followed the 0.6% increase registered in Q2. Imports grew 0.3% in Q3, decelerating from Q2’s 1.0% increase. As a consequence, the contribution of the external sector was marginally less negative.
Compared to the same period last year, the economy grew 1.2% in Q3, stable from Q2’s result.
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 1.4%.
Austria - GDP Data
|Economic Growth (GDP, annual variation in %)||2.8||0.8||0.3||0.4||0.9|
5 years of economic forecasts for more than 30 economic indicators.
Austria GDP Chart
Source: Austrian Institute of Economic Research (WIFO).
|Bond Yield||0.60||-8.61 %||Feb 16|
|Exchange Rate||1.07||0.92 %||Feb 16|
|Stock Market||2,811||0.12 %||Feb 16|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
February 8, 2017
The consumer confidence index produced by Fessel-GfK inched up in January to minus 3 points, the highest number since March 2013.
January 30, 2017
In January, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 57.3, which was up from December’s 56.3 and marked an almost six-year high.
January 25, 2017
In November, industrial production in Austria rose 0.9% over the previous month in seasonally adjusted terms.
January 10, 2017
The Austrian consumer confidence index produced by Fessel-GfK jumped up in December to minus 4 points, the highest number since March 2013.
December 29, 2016
In December, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 56.3, which was up from November’s 55.4 and marked an over five-and-a-half year high.