The Austrian economy advanced 0.3 percent on quarter in Q4 2019, unchanged from the preliminary estimate and above 0.2 percent in the previous period. Private spending expanded by 0.3 percent, while public consumption grew 0.4 percent. Also, gross fixed capital formation regained some momentum (+0.4 percent), mainly driven by construction (+0.5 percent) while investment in machinery and equipment stagnated and the one in machinery and transport equipment declined. Also, export momentum slowed (0.2 percent) although imports edged up a meagre 0.1 percent, resulting in a positive net external contribution to growth. On the production side, services bolstered the growth, namely retail trade (0.3 percent) and accommodation and food service activities (0.5 percent); construction growth remained solid (0.2 percent); while manufacturing shrank 0.6 percent. Year-on-year, the economy expanded 1 percent and considering full 2019, growth fell to 1.6 percent from 2.4 percent in 2018.
GDP Growth Rate in Austria averaged 0.45 percent from 1996 until 2019, reaching an all time high of 1 percent in the second quarter of 1999 and a record low of -1.10 percent in the fourth quarter of 2008. 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 March of 2020.
GDP Growth Rate in Austria is expected to be 0.10 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 0.20 in 12 months time. In the long-term, the Austria GDP Growth Rate is projected to trend around 0.50 percent in 2021, according to our econometric models.