Austria’s GDP expanded 0.3 percent on quarter in the three months to June of 2019, easing from an upwardly revised 0.5 percent advance in the previous period and in line with earlier estimates. It was the lowest growth rate since Q1 2015, as both household consumption (0.4 percent vs 0.5 percent in Q1) and fixed capital formation (0.5 percent vs 1 percent) slowed. Meantime, government expenditure showed no growth, after declining 0.1 percent in Q1 and net foreign demand contributed positively to growth, as exports rose 0.5 percent (vs 0.8 percent in Q1) while imports went up at a softer 0.4 percent (vs 0.6 percent). Year-on-year, the GDP grew 1.5 percent, slowing from an upwardly revised 2 percent expansion in the previous quarter and below preliminary estimates of 1.7 percent. GDP Growth Rate in Austria averaged 0.46 percent from 1996 until 2019, reaching an all time high of 1.10 percent in the fourth quarter of 1997 and a record low of -1.40 percent in the fourth quarter of 2008.
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. Looking forward, we estimate GDP Growth Rate in Austria to stand at 0.50 in 12 months time. In the long-term, the Austria GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.