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.
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