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.