GDP in Austria
Austria - GDP (billions of Euros)
Domestic demand keeps economic growth steady in Q1
The economy kept pace in the first quarter of 2019 according to a preliminary release, growing 0.3% over the previous quarter and matching the result of the fourth quarter. Compared with the same period in 2018, however, growth moderated noticeably to 1.1% in Q1, from 2.4% in Q4, as less working days in the quarter weighed on the reading.
Quarter-on-quarter growth was chiefly driven by domestic demand, while the external sector barely contributed to growth. Specifically, private consumption and investment were the main engines of growth; meanwhile, public expenditure growth slowed a tad. Private consumption expanded 0.4% quarter-on-quarter (Q4: +0.4% quarter-on-quarter), supported by easing inflation and despite upward trending unemployment and a drop in retail sales. Moreover, the marked fall in retail sales in March suggests this was likely linked to most Easter holidays falling in April this year. Fixed investments, meanwhile, increased 0.6% qoq, matching the growth rate of the prior quarter, and government consumption expanded 0.4% over the previous quarter, down from 0.5% in the fourth quarter.
In contrast, the external sector hardly contributed to economic growth as exports slowed: Exports of goods and services increased 0.4% over the prior quarter (Q4: +0.6% qoq), while goods and services imports rose 0.4% qoq, down from a 0.6% expansion in the previous quarter.
Going forward, the Austrian economy is expected to grow at a noticeably softer pace this year than in 2018. The moderating pace of growth, however, is in line with easing global and European economic momentum. Domestically, private consumption and fiscal expansion should provide stimulus, while headwinds mainly stem from the external environment. Downside risks include a hard or disorderly Brexit, and lingering trade tensions between the U.S. and China, and between the U.S. and EU.
Met the why particular panelists project that the economy will grow 1.7% in 2019, which is unchanged from last month’s estimate. For 2020, the panel expects the economy to expand 1.6%.
Austria - GDP (EUR bn) Data
|GDP (EUR bn)||324||333||344||353||370|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.24||0.11 %||May 13|
|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||3,011||-1.00 %||May 13|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 22, 2019
Consumer confidence dropped to minus 3 in April from minus 1 in March as the Consumer Confidence Index moved further south of the neutral zero-point mark that separates optimism from pessimism. The drop in sentiment reflected less optimism regarding households’ financial situations in the next 12 months and a deterioration in consumers’ views on the general economic situation in the same period, which swung from optimism to pessimism.
April 30, 2019
The economy kept pace in the first quarter of 2019 according to a preliminary release, growing 0.3% over the previous quarter and matching the result of the fourth quarter.
April 26, 2019
Austria’ manufacturing sector began the second quarter on a sour note with the Bank Austria Purchasing Managers’ Index (PMI) dropping to 49.2 in April from a neutral reading of 50.0 in March.
April 25, 2019
Industrial production in Austria increased 0.6% month-on-month in February, slightly below January’s revised 0.7% expansion (previously reported: +1.9% month-on-month).
April 24, 2019
Sentiment among consumers rose from minus 2 in February to minus 1 in March.