The Austrian economy advanced 3.6 percent over a quarter in the three months ending June 2021, slower than early estimates of a 4.3 percent expansion but marked a firm recovery from a downwardly revised 0.2 percent contraction in the first quarter. A key growth driver, final consumption expenditure rebounded solidly (3.1 percent vs -0.8 percent in Q1), particularly household consumption (3.3 percent vs -1.6 percent), as the vaccination drive facilitated the lifting of COVID-19 restrictions. In addition, net trade contributed positively to the GDP growth, underpinned by a sharp hike in exports (7.1 percent vs -2.9 percent) and falling imports (-2.1 percent vs 2.3 percent). Lastly, gains were capped by a steep drop in fixed investment (-6.4 percent vs 11.6 percent). On a yearly basis, Austria's economy rebounded by 12.0 percent in the second quarter, slightly faster than a preliminary estimate of 11.4 percent, following an upwardly revised 4.8 percent contraction. source: Oesterreichische Nationalbank
GDP Growth Rate in Austria averaged 0.40 percent from 1995 until 2021, reaching an all time high of 11.60 percent in the third quarter of 2020 and a record low of -10.60 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 2021.
GDP Growth Rate in Austria is expected to be 2.70 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 0.70 percent in 2022 and 0.50 percent in 2023, according to our econometric models.