Austria: GDP Decrease Due To Declining Consumption

15 Feb 2013

In the fourth quarter of 2012, Austria´s economy shrank by 0.2%. In the full year 2012, Austria´s GDP expanded by 0.7%.

According to the Austrian institute of economic research, the main reason for the economic downturn in Austria is the recession in the Eurozone. The seasonally adjusted GDP was 0.4% higher than in the fourth quarter of 2011. Against the third quarter, the real economic growth came at minus 0.2%.

The decline was mainly due the decreasing exports (-0.2%) and the falling consumption (-0.1%). Investments stagnated. Imports were down by 0.1%. By contrast, the construction output was up by 0.4%.

Source: https://www.friedlnews.com/article/austria-gdp-decrease-due-to-declining-consumption