Financial News: Austrian Economy Grows 0.3% In Q3

Austrian Economy Grows 0.3% In Q3

10/30/2024 - 08:44:00 (RTTNews)

(RTTNews) - Austria's economy expanded in the third quarter after remaining stagnant in the previous quarter, a flash estimate from the WIFO economic institute showed Wednesday.

Gross domestic product rose 0.3 percent sequentially in the September quarter.

On the expenditure side, both household consumption and general government consumption grew each by 0.5 percent. At the same time, gross fixed capital formation dropped by 0.3 percent as imports rose faster than exports.

On a yearly basis, GDP decreased at a slower pace of 0.1 percent, following a 1.2 percent decrease in the second quarter.

Elsewhere, data from Statistics Austria showed that producer prices declined at a faster pace of 2.6 percent annually in September, following a 2.0 percent rise in August. Monthly, producer prices dropped 0.2 percent.

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