Austria records third-largest growth in the EU 26. December 2006

Based on recently published economic data, the growth rates in Europe are decreasing slightly, while Austria’s economic performance is still strong.

On 14 November 2006 the European Statistical Office Eurostat presented the data for the third quarter 2006 (compared to the previous quarter) showing a clear downward trend in Germany (0.6%), France (0.0), the Netherlands (0.6) and Italy (0.3) as well as a continuing strong GDP growth in Greece (2.1), Spain (0.9) and Austria (0.9). In a comparison of annual GDP growth rates Austria is currently ranked third in the EU with 3.3%. After a 0.9% increase in the second quarter, the economy in the 12 countries of the euro-zone grew merely by 0.5% in the third quarter. Compared to the third quarter of 2005, the euro-zone registered a growth of 2.6%. Economic growth is slowing down also in the EU-25: between July and September growth was 0.6% compared to 0.9% in the second quarter. ■

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