Austria's quarterly economic growth was revised higher to 3.8 percent in the third quarter of 2021, from a preliminary estimate of 3.3 percent and compared with a 4.2 percent expansion in the previous three-month period. The GDP rose above the pre-crisis level for the first time, supported by a strong rebound in activity and demand following the end of the third lockdown. Consumption expenditure advanced 5.0 percent, after a 3.3 percent increase in the second quarter, mainly boosted by a solid gain in household consumption (7.2 percent vs 4.2 percent). Meanwhile, gross fixed capital investment contracted, led by declines in investment in dwellings (-5.2 percent vs 0.4 percent), in other buildings and structures (-4.6 percent vs 1.1 percent) and in machinery and equipment (-1.7 percent vs 1.0 percent). Net external demand also contributed negatively to the GDP as exports fell 2.3 percent and imports were down 2.1 percent. On a yearly basis, the economy grew by 5.7 percent. source: Statistics Austria

GDP Growth Rate in Austria averaged 0.45 percent from 1995 until 2021, 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 January 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 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Austria GDP Growth Rate


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
3.80 4.20 10.90 -11.40 1995 - 2021 percent Quarterly
SA

Calendar GMT Actual Previous Consensus TEForecast
2021-10-29 07:00 AM QoQ Flash Q3 3.3% 4% 2.5% 2.7%
2021-12-02 08:00 AM QoQ Final Q3 3.8% 4.2% 3.3% 3.3%
2022-01-31 08:00 AM QoQ Flash Q4 3.8% 2.5%


Related Last Previous Unit Reference
GDP Growth Rate 3.80 4.20 percent Sep/21
GDP Annual Growth Rate 5.70 13.00 percent Sep/21


News Stream
Austria Q3 GDP Growth Rate Revised Higher
Austria's quarterly economic growth was revised higher to 3.8 percent in the third quarter of 2021, from a preliminary estimate of 3.3 percent and compared with a 4.2 percent expansion in the previous three-month period. The GDP rose above the pre-crisis level for the first time, supported by a strong rebound in activity and demand following the end of the third lockdown. Consumption expenditure advanced 5.0 percent, after a 3.3 percent increase in the second quarter, mainly boosted by a solid gain in household consumption (7.2 percent vs 4.2 percent). Meanwhile, gross fixed capital investment contracted, led by declines in investment in dwellings (-5.2 percent vs 0.4 percent), in other buildings and structures (-4.6 percent vs 1.1 percent) and in machinery and equipment (-1.7 percent vs 1.0 percent). Net external demand also contributed negatively to the GDP as exports fell 2.3 percent and imports were down 2.1 percent. On a yearly basis, the economy grew by 5.7 percent.
2021-12-02
Austria Q3 GDP Growth Beats Expectations
The Austrian economy advanced 3.3 percent on quarter in the three months to September 2021, slowing from an upwardly revised 4 percent expansion in the previous quarter, but beating market expectations of a 2.5 percent increase, a preliminary estimate showed. A key growth driver, household consumption advanced faster (8.2 percent vs 1.9 percent in Q2), amid the relaxation of pandemic-induced restrictions. However, gains were capped by a decline in government consumption (-1 percent vs 3 percent), sluggish investment (-0.4 percent vs 1.5 percent) and slowing foreign trade as both exports (-4.1 percent vs 13.7 percent) and imports (-5 percent vs 3.7 percent) declined. On a yearly basis, Austria’s economy grew 4.8 percent in the third quarter, easing from an upwardly revised 12.6 percent increase in Q2.
2021-10-29
Austria Q2 GDP Rises Less than Estimated
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.
2021-09-02