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Economic Growth in Austria
Austria's economy recorded an average growth rate of 1.2% in the decade to 2024, compared to the 0.8% average for Euro Area. In 2024, real GDP growth was -1.1%. For more GDP information, visit our dedicated page.
Austria GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Austria from 2014 to 2025.
Source: Macrobond.
Austria GDP Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 5.0 | 5.4 | -0.7 | -0.8 | 1.0 |
| GDP (EUR bn) | 406 | 449 | 478 | 494 | 514 |
| Economic Growth (Nominal GDP, ann. var. %) | 6.8 | 10.6 | 6.3 | 3.4 | 4.1 |
Economy flatlines in Q2 2026
GDP reading: Austria's economy stagnated on a seasonally adjusted quarter-on-quarter basis, posting 0.0% growth in Q2 following a 0.2% rise in the previous quarter. Q2's reading was the weakest since Q3 2024. The sharp rise in oil prices caused by the war in Iran weighed on the domestic economy, halting its recovery. On a year-on-year basis, economic output expanded 0.8% in Q2, following a 0.9% expansion in the previous quarter.
Economy stagnates as consumption contracts: Compared to the previous quarter's data, readings in Q2 softened for private consumption (-0.1% in seasonally adjusted quarter-on-quarter terms vs +0.2% in Q1) and government consumption (-0.1% vs +1.6% in Q1). In contrast, readings strengthened for fixed investment (+0.4% vs 0.0% in Q1), exports of goods and services (+0.5% vs -0.7% in Q1) and imports of goods and services (+0.6% vs -0.5% in Q1).
Panelist insight: EIU analysts commented on the outlook: “We forecast that real GDP growth will remain lacklustre at 0.8% in 2026 as the conflict in the Middle East keeps inflation elevated and weighs on consumer demand (which we had previously been expecting to drive stronger growth this year).”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Austrian GDP projections for the next ten years from a panel of 25 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Austrian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Austrian GDP projections.
Want to get access to the full dataset of Austrian GDP forecasts? Send an email to info@focus-economics.com.
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