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Financial News: Austria's GDP Growth Improves In Q4

Austria's GDP Growth Improves In Q4

01/30/2020 - 03:32:00 (RTTNews)

(RTTNews) - Austria's economy grew at a slightly faster pace in the fourth quarter, flash estimates from the Austrian Institute of Economic Research, or WIFO, showed on Thursday.

Gross domestic product advanced 0.3 percent quarter-on-quarter, while economists expected the growth rate to remain unchanged at 0.2 percent.

On an annual basis, economic growth slowed to 1.1 percent from 1.6 percent in the third quarter. In 2019, the economy expanded 1.6 percent.

The expenditure-side breakdown of GDP showed that private consumption grew at a steady pace of 0.3 percent in the fourth quarter. At the same time, growth in government spending improved to 0.4 percent from 0.3 percent.

Gross fixed capital formation rose at a faster pace of 0.5 percent sequentially after rising 0.3 percent. Exports and imports climbed 0.3 percent each in the fourth quarter.

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