Austria’s economy shrank in the fourth quarter as lower demand for goods in the euro area slowed exports, government-backed Wifo economic research institute said.
Fourth-quarter gross domestic product fell 0.2 percent from the third quarter, when it rose 0.1 percent, Wifo said today in an e-mailed statement. Exports declined 0.1 percent and consumer demand also fell 0.1 percent after a stagnation in the third quarter.
The economy in the Alpine republic rose 0.7 percent in 2012 based on today’s flash estimate, Wifo said.
To contact the reporter on this story: Alexander Weber in Vienna at email@example.com
To contact the editor responsible for this story: Mariajose Vera at firstname.lastname@example.org