Austrian Economy Logs Slight Recovery In Q1

(RTTNews) - Austria's economy expanded for the first time in two-and-a-half years in the three months ending in March, a flash estimate from the WIFO economic institute showed Wednesday.

Gross domestic product advanced 0.2 percent sequentially, after a 0.4 percent contraction in the final quarter of 2024.

On the production side, the value added in industry grew 0.6 percent, which was the first increase in seven quarters. Meanwhile, the construction sector continued to shrink by 0.2 percent.

The expenditure breakdown showed that household consumption rose marginally by 0.1 percent, while public consumer demand grew strongly by 0.4 percent.

At the same time, gross fixed capital formation dropped by 0.1 percent. Both exports and imports climbed by 1.4 percent and 1.1 percent, respectively.

On a yearly basis, GDP decreased at a slower pace of 0.7 percent, following a 0.9 percent drop in the fourth quarter.