Current Account in Austria

Austria Current Account | Economic News & Forecasts

Austria - Current Account

In the third quarter the wind blew slightly less strongly in the sails of the Austrian economy than previously estimated. A second reading of national accounts data showed that the economy expanded at the same pace as in Q2 and matched the EU28 average. Growth in the economy was underpinned by both domestic demand and the external sector. Domestic demand benefited from strong private consumption and fixed investment growth—although troubles in the automotive sector relating to the new emission regulations slightly dragged on household consumption—while the external sector was supported by robust foreign demand and a moderation in import growth. Meanwhile, data from the fourth quarter has been largely solid so far. The manufacturing PMI increased in November on stronger growth in output, new orders and unemployment, while consumer sentiment remained elevated in the same month. Less positively, business confidence fell to a multi-year low on worries over an economic slowdown and the health of the automotive sector.

Austria - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.9  2.5  1.9  2.1  1.9  

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Austria Current Account Chart

Austria Current Account
Note: Current account balance as % of GDP.
Source: Austrian National Bank and FocusEconomics calculations.

Austria Facts

Bond Yield0.440.40 %Jan 16
Exchange Rate1.140.65 %Jan 16
Stock Market2,929-1.00 %Jan 16

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