Austria's gross domestc product advanced by 12% on quarter in the three months to September of 2020, above a preliminary estimate of a 11.1% rise and following a downwardly revised 11.6% slump in the previous period. It was the strongest expansion since comparable data began in 1996, amid the gradual easing of coronavirus restrictions. Household consumption (13.3% vs -11.4% in Q2) and fixed investment (7.9% vs -7.2% in Q2) rebounded sharply. In addition, net external demand contributed positively to the GDP as exports advanced 16.1% (vs -18.4% in Q2) and imports increased 12.1% (vs -17.4% in Q2). Year-on-year, the economy shrank 4%, compared to a preliminary estimate of a 5.3% decline and following a downwardly revised 14.1% contraction in the previous three-month period. source: Oesterreichische Nationalbank
GDP Growth Rate in Austria averaged 0.40 percent from 1996 until 2020, reaching an all time high of 12 percent in the third quarter of 2020 and a record low of -12.10 percent in the second quarter of 2020. This page provides - Austria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Austria GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Growth Rate in Austria is expected to be -2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Austria to stand at 0.90 in 12 months time. In the long-term, the Austria GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 0.50 percent in 2022, according to our econometric models.