Austria GDP grows 0.6% in fourth quarterStaff Writer | February 28, 2017
Austria's gross domestic product grew by 0.6% in the fourth quarter of 2016 on the previous three months, helped mainly by consumption, the WIFO institute said.
Europe The WIFO institute:
Austria's growth was boosted by consumption, while foreign trade was sluggish, WIFO said. Manufacturing and trade supported growth.
Investment increased by 0.9%, after growing by a downwardly revised 1.0% in the third quarter. Private consumption rose by 0.5% in October-December, after 0.6% growth in the third quarter. State consumption expanded by 0.4%, up from 0.3% in the third quarter, WIFO said.
Austria's GDP grew by 1.7% in the fourth quarter of the year in real terms, slightly less than a first estimate of 1.8%, but still stronger than the 1.3% growth in the third quarter, WIFO said. Austria's GDP rose by 1.5% in real terms across 2016. ■