Austrian Economy Stagnates In Q4

(RTTNews) - Austria's economy stalled in the final quarter of 2024 after back-to-back contractions, a flash estimate from the WIFO economic institute showed Thursday.

Gross domestic product remained flat sequentially in the December quarter, following a 0.1 percent fall in the September quarter.

On the production side, the industrial economy stayed sluggish, and the value added in this sector dropped by 0.6 percent. Meanwhile, the services sector showed a mixed picture.

The expenditure breakdown showed that household consumption grew 0.3 percent, while general government consumption dropped by 0.2 percent. At the same time, gross fixed capital formation rose by 0.5 percent. Both exports and imports declined by 1.6 percent and 1.2 percent, respectively.

On a yearly basis, GDP decreased at a slower pace of 0.2 percent, following a 0.8 percent decrease in the third quarter.