The Austrian economy contracted 0.4% in the three months ending June 2024, compared to a flat reading in the preliminary estimates and following a 0.1% growth in the previous quarter. Household consumption fell by 1.1% (vs 0.8% in Q1), while the gross capital formation increased by 7.3% (vs -6.7%) driven by a higher investment in other buildings and structures (3.7% vs -3.8%) and machinery and equipments (1.3% vs -5%). On the external side, exports decreased 0.02% (vs -1.2%), while imports rose 0.6% (vs -1.4%). On a yearly basis, GDP fell by 0.6%, following a downwardly revised 1% decrease in the preceding period. source: Statistics Austria
The Gross Domestic Product (GDP) in Austria contracted 0.40 percent in the second quarter of 2024 over the previous quarter. GDP Growth Rate in Austria averaged 0.40 percent from 1995 until 2024, reaching an all time high of 11.30 percent in the third quarter of 2020 and a record low of -11.20 percent in the second quarter of 2020. This page provides - Austria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Austria GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2024.
The Gross Domestic Product (GDP) in Austria contracted 0.40 percent in the second quarter of 2024 over the previous quarter. GDP Growth Rate in Austria is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Austria GDP Growth Rate is projected to trend around 0.40 percent in 2025 and 0.20 percent in 2026, according to our econometric models.