Austrian Economy Grows More Than Estimated In Q3

(RTTNews) - Austria's economy expanded more than initially estimated in the third quarter, the latest data from Statistics Austria showed on Thursday.

Gross domestic product rose 0.4 percent sequentially in the September quarter, after remaining stagnant in the previous quarter, revised down from a 0.1 percent decrease estimated earlier.

On the expenditure side, household consumption fell 0.3 percent, while government consumption continued to increase by 0.7 percent. Public expenditure had been recording consistently positive growth rates since the beginning of 2024.

Gross capital formation dropped 0.1 percent, mainly due to the lower investments in dwellings, which declined 1.3 percent. However, an increase in inventories also contributed to the overall positive economic development.

Net exports were not favorable, as exports fell 1.6 percent amid only a 0.5 percent decrease in imports amid the uncertainties on the world market.

On a yearly basis, GDP expanded at a faster pace of 0.9 percent, following a 0.4 percent growth in the second quarter. The latest expansion was revised upward from 0.6 percent.