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Financial News: Austria GDP Growth Slows In Q1

Austria GDP Growth Slows In Q1

04/28/2017 - 07:41:00 (RTTNews)

(RTTNews) - Austria's economic growth slowed in the first quarter after stabilizing in the final three months of 2016, preliminary data from the Austrian Institute of Economic Research/WIFO showed Friday.

Gross domestic product, based on Eurostat calculation method, grew 0.5 percent quarter-on-quarter, following 0.6 percent expansion in each of the previous two quarters.

Strong consumption, foreign trade, gaining momentum in the industrial and construction sectors contributed to growth in the first quarter, the WIFO said.

On a year-on-year basis, GDP rose 2 percent in the first quarter following 1.7 percent growth in the previous three months.

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