The Austrian economy shrank by 0.1 percent on quarter in the three months ending September of 2022, compared with an upwardly revised 1.9 percent expansion in the previous period, a preliminary estimate showed. The main negative contribution came from net external demand as exports slumped 3.5 percent (vs +5.8 percent in Q2) and imports fell 1.1 percent (vs -0.1 percent in Q2), reflecting the downturn in the international economy. Concomitantly, fixed investment decreased (-0.3 percent vs -1.3 percent) while government spending stagnated (vs 2.7 percent in Q2). Meanwhile, household consumption rebounded slightly (0.6 percent vs -0.6 percent). On a yearly basis, Austria’s GDP rose 1.8 percent in the third quarter, the least since the first quarter of 2021, decelerating sharply from an upwardly revised 6.2 percent increase in the prior period. source: Statistics Austria

GDP Growth Rate in Austria averaged 0.45 percent from 1995 until 2022, 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 November of 2022.

GDP Growth Rate in Austria is expected to be 0.30 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 0.60 percent in 2023 and 0.40 percent in 2024, according to our econometric models.

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Austria GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-01 07:00 AM QoQ Final Q2 1.5% 1.5% 0.5% 0.5%
2022-10-28 07:00 AM QoQ Flash Q3 -0.1% 1.9% -1.7%
2022-11-30 08:00 AM QoQ Final Q3 1.9% -0.1%


Related Last Previous Unit Reference
GDP Growth Rate -0.10 1.90 percent Sep 2022
GDP Annual Growth Rate 1.80 6.20 percent Sep 2022

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
-0.10 1.90 10.90 -11.40 1995 - 2022 percent Quarterly
SA

News Stream
Austria GDP Contracts 0.1% QoQ in Q3
The Austrian economy shrank by 0.1 percent on quarter in the three months ending September of 2022, compared with an upwardly revised 1.9 percent expansion in the previous period, a preliminary estimate showed. The main negative contribution came from net external demand as exports slumped 3.5 percent (vs +5.8 percent in Q2) and imports fell 1.1 percent (vs -0.1 percent in Q2), reflecting the downturn in the international economy. Concomitantly, fixed investment decreased (-0.3 percent vs -1.3 percent) while government spending stagnated (vs 2.7 percent in Q2). Meanwhile, household consumption rebounded slightly (0.6 percent vs -0.6 percent). On a yearly basis, Austria’s GDP rose 1.8 percent in the third quarter, the least since the first quarter of 2021, decelerating sharply from an upwardly revised 6.2 percent increase in the prior period.
2022-10-28
Austria GDP Growth Falters in Q2
The Austrian economy grew by 0.5 percent quarter-over-quarter in the three months ending June of 2022, moderating from a 1.5 percent expansion in the previous period, a preliminary estimate showed. The main drag came from a contraction of private household spending (-1.9 percent vs 0.8 percent in Q1), as higher uncertainty in the global economic conjecture and soaring prices curbed demand. Meanwhile, growth remained strong in gross fixed capital formation (1.2 percent vs 1.6 percent) and exports gained momentum (2.7 percent vs 2.3 percent), contrasting with faltering imports (0.5 percent vs 3.7 percent). Lastly, government spending was unchanged on a quarterly basis (vs -3.0 percent in Q1). On a yearly basis, Austria’s GDP rose 4.7 percent in the second quarter, slowing from a downwardly revised 8.7 percent increase in the prior period.
2022-07-29
Austria Q1 GDP Expands Less Than Expected
The Austrian economy grew 1.5 percent on quarter in the first three months of 2022, below a preliminary estimate of 2.5 percent expansion and compared with a downwardly revised 0.8 percent contraction in the previous three-month period. Consumption expenditure fell less (-0.4 percent vs -1.4 percent in Q4) amid a rebound in household consumption (0.7 percent vs -4 percent in Q4). Also, gross fixed capital formation bounced back in both residential (1.7 percent vs -2 percent) and non -residential buildings (4.6 percent vs -1.6 percent). Meanwhile net external demand contributed negatively as exports rose by a softer 2.3 percent while imports surged by 3.7 percent. On a yearly basis, the economy advanced 9.5 percent, growing sharply from a downwardly revised 6.3 percent expansion in the previous quarter.
2022-06-02