ECONOMY

Austria: In the second quarter, growth fell to 0.3%

Austrian economy development decreased in the second half to 0.3 percent after achieving 0.4 percent in the past quarter, according to a first assessment published by the Wifo Institute in the framework of a slowdown in the international economy on Tuesday.

Stagnant investment has labeled the decade in particular, one of the pushing factors of the development of the country in the latest years.

Another traditional locomotive, exports are limited to 0.5%, after 0.9% in the first quarter. Nevertheless, production output fell by 1.2% a year ago, by 0.1%.

However, growth remains driven by household consumption, up 0.5%, as in the previous quarter.

On a year-on-year basis, Austrian growth sped up slightly to 1.7%, after 1.5% in the first quarter.

According to the European harmonized standard, Austrian growth over one quarter remained capped at 0.2% from April to June, after 0.4% in the previous quarter.

Wifo forecast growth of 1.7% in Austria for the whole year, after 2.7% in 2018. The reference institute expects a further slowdown to 1.5% in 2020.

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Seth Statnick

Reporter Seth Statnick was born and raised in California but moved east when he was 25. Apart from running his own consulting firm. Seth spends his time rowing. As a financial journalist Seth has published stories for NPR Business Online, as well as Buzz Feed and Motherboard. As a contributor to The Ticker Times, Seth mostly covers markets and trade. Tel: 206-332-0220 Location: 1304 6th Ave, Seattle, WA 98104, USA Email: [email protected]

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