Austrian economy sees slight Q2 growth acceleration

Vienna, Aug 29 (IANS) The Austrian economy has continued to gain modest momentum with 0.3 percent gross domestic product (GDP) growth in the second quarter, the Austrian Institute of Economic Research (WIFO) said.

This figure, released on Friday, was a slight growth increase from the first quarter when 0.2 percent growth was recorded, and remains in line with WIFO’s preliminary calculations made at the end of July, Xinhua reported.

The institute put the improved result down to the first signs of recovery in the export sector with demand for exports increasing 0.2 percent, along with increased equipment investments (0.5 percent), as well as acceleration in industrial activity (0.4 percent).

Less positive, however, was private consumption, with both private spending and consumer demand increasing only 0.1 percent.

In June, WIFO had forecast 0.5 percent real GDP growth for the domestic economy for the full year, that was to accelerate to 1.3 percent in 2016. Its next forecast is due at the end of September.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here