Austria: Economy grows at steady pace in Q4; full-year 2015 growth accelerates
January 29, 2016
According to preliminary estimates released by the Austrian Institute of Economic Research (WIFO) on 29 January, the economy grew at a steady pace in the final quarter of 2015. GDP grew 0.3% in Q4 compared to the previous quarter, matching Q3’s result. Full-year GDP growth sped up from 0.4% in 2014 to 0.9% in 2015.
Q4’s steady expansion mainly reflects that stronger public and private consumption compensated for slower investment growth. Government consumption accelerated from Q3’s 0.3% growth to 0.6% in Q4, marking the largest gain in nearly three years. Private consumption expanded 0.2% over the previous period, slightly up from Q3’s 0.1% rise. Conversely, fixed investment growth decelerated from 0.6% in Q3 to 0.4% in Q4.
In the external sector, exports of goods and services rose 0.8% over the previous quarter, which followed the 1.5% increase registered in Q3. Imports grew 1.1% in Q4, edging down from Q3’s 2.0% expansion.
Compared to the same period of the previous year, the economy grew 1.1% in Q4, which was slightly up from Q3’s 1.0% rise. More detailed data will be released on 29 February.