Austria Q3 GDP Growth Confirmed At 0.2%

(RTTNews) - Austria's economy expanded in the third quarter after stagnating in the previous three months, final data released by the Austrian Institute of Economic Research (WIFO) confirmed Monday.

The gross domestic product increased 0.2 percent quarter-on-quarter in the third quarter after zero growth in the second quarter.

Export growth accelerated to 0.4 percent quarter-on-quarter in the third quarter from 0.3 percent in the second quarter. Imports also grew at a faster pace of 0.2 percent.

Private consumption grew 0.1 percent quarter-on-quarter, while government spending rose 0.4 percent. Gross fixed capital formation increased 0.2 percent from the second quarter.

Year-on-year, GDP increased 0.5 percent, down from the preliminary estimate of 0.7 percent expansion. The economy stagnated in the three months to June in year-on-year terms.