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Austrian Growth Driven by Exports

August 14, 2013

Economy grows by 0.2% in 2Q 2013; domestic spending still hesitant

Austria’s economy gained pace in the second quarter 2013 as exports expanded more dynamically, the Austrian Institute of Economic Research WIFO said.  Austria’s gross domestic product expanded by 0.2% in the 2nd quarter of 2013 compared to a modest 0.1% increase in the 1st quarter.

Austrian exports increased by 0.3% in the 2nd quarter of 2013 and provided the most momentum to the economy. Austrian consumers and also companies are still very reluctant to spend money on private consumption and investments.  WIFO’s predicts the Austrian economy to grow overall for 2013 by 0.4%.