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Austrian economy is growing

The Austrian Economic Research Institute (Wifo) reported on November 14 that the gross domestic product was up by 0.9 per cent in the third quarter of the year, compared to the second, thanks to higher exports and increased domestic demand. Exports alone were up by 1.7 per cent in the third quarter.

Wifo added that a survey of Austrian businesses had revealed that they had received enough new orders to ensure continued growth through the next four-to-five months. Wifo also announced that the gross domestic product was 3.3 per cent higher at the end of the third quarter than at the same time last year.

Wifo noted that growth in Germany, Austria's largest export market, had been significantly above the long-term average.

by Jim Glenn: newsroom@cen.at

austriantimes.at


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