FOREX TradingCharts.com

Financial News: Austrian GDP Grows 0.1% In Q1, Less Than

Austrian GDP Grows 0.1% In Q1, Less Than Estimated

06/03/2024 - 06:03:00 (RTTNews)

(RTTNews) - Austria's economy expanded less than initially estimated in the three months ending March, the latest data from Statistics Austria showed on Monday.

Gross domestic product rose 0.1 percent quarter-on-quarter, the same pace of increase as in the final quarter of 2023, which revised upwardly from a flat change estimated earlier. In the initial estimate, the rate of expansion was 0.2 percent.

The Austrian economy advanced for the second straight quarter after shrinking 0.3 percent in the third quarter and 1.3 percent in the second quarter.

On the expenditure side, household consumption grew 0.7 percent over the quarter, while gross capital formation shrank by 4.75 percent. Both exports and imports rose by 2.58 percent and 3.27 percent, respectively.

Meanwhile, the annual change in GDP indicated that the country continued to remain in recession in the first quarter. The economy contracted for the fourth time in a row, declining by 1.1 percent versus 1.6 percent in the December quarter. In the flash report, the rate of decline was 1.3 percent.

"The decline in economic output is primarily due to falls in industry and wholesale, while the economy is being supported by private consumption," Tobias Thomas, director general at Statistics Austria, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Unemployment Data Due On Thursday (05 hr(s), 26 min(s), 31 sec(s) ago)
(RTTNews) - Australia will on Thursday release May figures for unemployment, highlighting a light ...Full Story»

What Makes This Economist Think Two Fed Rate Cuts Are Possible This Year? (08 hr(s), 0 min(s),31 sec(s) ago)
(RTTNews) - The U.S. Federal Reserve left the federal funds rate target unchanged on Wednesday and ...Full Story»

Fed Leaves Interest Rates Unchanged, Forecasts Just One Rate Cut This Year (09 hr(s), 0 min(s),31 sec(s) ago)
(RTTNews) - While announcing its widely expected decision to leave interest rates unchanged on Wed ...Full Story»

U.S. Crude Oil Inventories Unexpectedly Jump By 3.7 Million Barrels (12 hr(s), 42 min(s), 31 sec(s) ago)
(RTTNews) - Crude oil inventories in the U.S. unexpectedly saw a significant increase in the week ...Full Story»

U.S. Consumer Prices Unexpectedly Flat In May, Annual Growth Slows To 3.3% (13 hr(s), 57 min(s), 31 sec(s) ago)
(RTTNews) - With a steep drop in gasoline prices partly offsetting a continued increase in shelter ...Full Story»

Thailand Leaves Policy Rate Steady At 2.50% (14 hr(s), 02 min(s), 31 sec(s) ago)
(RTTNews) - Thailand's central bank decided to keep the interest rate unchanged for the fourth ...Full Story»

India Industrial Output Growth At 3-Month Low (14 hr(s), 03 min(s), 31 sec(s) ago)
(RTTNews) - India's industrial production growth moderated to a three-month low in April but t ...Full Story»

U.S. Mortgage Applications Show Substantial Rebound (14 hr(s), 15 min(s), 31 sec(s) ago)
(RTTNews) - After reporting two consecutive weekly decreases in U.S. mortgage applications, the Mo ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Unemployment Data Due On Thursday

06/12/2024 - 18:01 PM (RTTNews)
(RTTNews) - Australia will on Thursday release May figures for unemployment, highlighting a light ...Full Story>>

What Makes This Economist Think Two Fed Rate Cuts Are Possible This Year?

06/12/2024 - 15:27 PM (RTTNews)
(RTTNews) - The U.S. Federal Reserve left the federal funds rate target unchanged on Wednesday and ...Full Story>>

Fed Leaves Interest Rates Unchanged, Forecasts Just One Rate Cut This Year

06/12/2024 - 14:27 PM (RTTNews)
(RTTNews) - While announcing its widely expected decision to leave interest rates unchanged on Wed ...Full Story>>

U.S. Crude Oil Inventories Unexpectedly Jump By 3.7 Million Barrels

06/12/2024 - 10:45 AM (RTTNews)
(RTTNews) - Crude oil inventories in the U.S. unexpectedly saw a significant increase in the week ...Full Story>>

U.S. Consumer Prices Unexpectedly Flat In May, Annual Growth Slows To 3.3%

06/12/2024 - 09:30 AM (RTTNews)
(RTTNews) - With a steep drop in gasoline prices partly offsetting a continued increase in shelter ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.