Austrian GDP Growth Revised Higher In Q2

(RTTNews) - The Austrian economy expanded more than initially estimated in the second quarter, the latest data from Statistics Austria showed on Friday.

Gross domestic product advanced 0.3 percent in the June quarter, following an upwardly revised 0.2 percent increase in the March quarter. In the flash estimate, the rate of growth was only 0.1 percent.

Considering the expenditure approach, gross fixed capital formation grew 0.7 percent over the quarter, while household consumption dropped 0.2 percent. Foreign demand was favorable as exports rose 0.1 percent amid a 0.6 percent fall in imports.

On a yearly basis, GDP declined 0.1 percent in the second quarter, slower than the 0.5 percent contraction in the previous quarter. In the flash report, the Austrian economy showed an expansion of 0.1 percent.