Austria's economy expanded 0.4 percent on quarter in the three months to March of 2019, the same pace as in the previous period and beating market expectations of a 0.3 percent gain, final figures showed. It remains the slowest expansion since Q2 2015, as government spending grew slightly less (0.4 percent vs 0.5 percent in Q4). Meanwhile, private consumption (0.4 percent vs 0.3 percent) and fixed investment (0.8 percent vs 0.7 percent) advanced faster. At the same time, net trade contributed positively to growth, as exports rose 0.6 percent (vs 0.7 percent in Q4) and imports increased at a slower 0.4 percent (vs 0.5 percent in Q4). Year-on-year, the GDP advanced 1.4 percent, above a preliminary estimate of 1.1 percent but weaker than an upwardly revised 2.5 percent in Q4. It was the slowest annual growth rate since Q3 2016. GDP Growth Rate in Austria averaged 0.47 percent from 1996 until 2019, reaching an all time high of 1.10 percent in the fourth quarter of 1997 and a record low of -1.40 percent in the fourth quarter of 2008.
GDP Growth Rate in Austria is expected to be 0.40 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 0.50 in 12 months time. In the long-term, the Austria GDP Growth Rate is projected to trend around 0.30 percent in 2020, according to our econometric models.