The Austrian economy advanced 2.5 percent on quarter in the first three months of 2022, recovering from a 1.5 percent drop in the previous quarter, a preliminary estimate showed. Household consumption rebounded (0.1 percent vs -3.6 percent in Q4) while gross fixed capital formation expanded (4.2 percent vs -0.7 percent). On the flip side, government spending contracted (-1.0 percent vs 2.1 percent). Regarding customs trade, exports advanced 4.1 percent (vs -0.9 percent in Q4) while imports surged 5.5 percent (vs -1.6 percent in Q4). On a yearly basis, Austria’s economy grew 8.7 percent in the first quarter, accelerating from a revised 5.6 percent increase in the prior period. source: Statistics Austria

GDP Growth Rate in Austria averaged 0.44 percent from 1995 until 2022, reaching an all time high of 10.90 percent in the third quarter of 2020 and a record low of -11.40 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 May of 2022.

GDP Growth Rate in Austria is expected to be -0.50 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 0.60 percent in 2023 and 0.40 percent in 2024, according to our econometric models.

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Austria GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-04 08:00 AM QoQ Final Q4 -1.5% 3.8% -2.2% -2.2%
2022-04-29 07:00 AM QoQ Flash Q1 2.5% -1.5% -0.8%
2022-06-01 07:00 AM QoQ Final Q1 -1.5% 2.5%


Related Last Previous Unit Reference
GDP Growth Rate 2.50 -1.50 percent Mar 2022
GDP Annual Growth Rate 8.70 5.60 percent Mar 2022

Austria GDP Growth Rate
Austria's economy features a large service sector (63 percent of total GDP), a solid industrial sector (25 percent), and a small, but highly developed agricultural sector (1 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent. .
Actual Previous Highest Lowest Dates Unit Frequency
2.50 -1.50 10.90 -11.40 1995 - 2022 percent Quarterly
SA

News Stream
Austria Economy Returns to Growth in Q1 2022
The Austrian economy advanced 2.5 percent on quarter in the first three months of 2022, recovering from a 1.5 percent drop in the previous quarter, a preliminary estimate showed. Household consumption rebounded (0.1 percent vs -3.6 percent in Q4) while gross fixed capital formation expanded (4.2 percent vs -0.7 percent). On the flip side, government spending contracted (-1.0 percent vs 2.1 percent). Regarding customs trade, exports advanced 4.1 percent (vs -0.9 percent in Q4) while imports surged 5.5 percent (vs -1.6 percent in Q4). On a yearly basis, Austria’s economy grew 8.7 percent in the first quarter, accelerating from a revised 5.6 percent increase in the prior period.
2022-04-29
Austria Q4 GDP Shrinks Less Than Expected
The Austrian economy retreated 1.5 percent on quarter in the last three months of 2021, slightly below a preliminary estimate of 2.2 percent contraction and compared with a 3.8 percent expansion in the previous three-month period as the lockdown in the 4th quarter slowed down the economic recovery. It was the first contraction in quarterly GDP since the three months ending March of 2021, and the steepest fall since the fourth quarter of 2020.Consumption expenditure fell 1.9 percent, after a 7.8 percent increase in the third quarter, led by a decline in household consumption (-3.7 percent) ang government expenditure(-1.9 percent). Meanwhile, fixed capital investment rebounded (2.1 percent vs -7 percent), particularly in machinery and equipment (2.1 percent). Net external demand had little to no impact, as exports fell 0.9 percent and imports contracted 1.6 percent. On a yearly basis, the economy grew by 5.5 percent, slightly advancing from 5.4 percent expansion in the previous quarter.
2022-03-04
Austria GDP Contracts the Most since 2Q 2020
The Austrian economy retreated 2.2 percent quarter-over-quarter in the last three months of 2021, following a 3.8 percent expansion in the previous quarter, a preliminary estimate showed. It was the first contraction in quarterly GDP since the three months ending March of 2021, and the steepest fall since the June quarter of 2020, as the country reimposed nationwide lockdowns. The impact of these measures mostly weighed down on household spending (-1.4 percent vs 7.0 percent in Q3), while public spending increased at a softer pace (0.2 percent vs 0.5 percent). Net external demand had little to no impact, as exports (-1.2 percent vs -2.3 percent) and imports (-1.2 percent vs -2.1 percent) contracted at the same pace. On the other hand, fixed capital investment rebounded (0.4 percent vs -2.8 percent). On a yearly basis, Austria’s economy expanded 5.4 percent in the fourth quarter, easing from a downwardly revised 5.6 percent increase in Q3.
2022-01-31