Bloomberg News

Austrian GDP Expanded 0.3% in First Quarter on Exports

June 08, 2012

Austria’s economy expanded in the first quarter after the Alpine republic’s manufacturers lifted exports and people consumed more goods and services, the government-backed Wifo economic research institute said.

First-quarter gross domestic product, the value of goods and services, rose 0.3 percent from the preceding three months, Wifo said today in an e-mailed statement. That compares to an initial estimate of 0.2 percent growth, published on May 15.

“The results of Wifo’s latest economic data and the slight flattening of the global economy also suggest a certain slow- down of domestic economic activity in the next quarters,” Wifo said in the statement.

Wifo also revised its estimate for the fourth quarter of last year to a contraction of 0.1 percent. It previously had said there was zero growth.

Austria’s economy grew 2 percent on a year-on-year basis, up from an initial estimate of 1.9 percent, according to Wifo.

To contact the reporter on this story: Zoe Schneeweiss in Vienna at zschneeweiss@bloomberg.net

To contact the editor responsible for this story: Jonathan Tirone at jtirone@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus