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.