The Austrian economy grew rapidly

By: Trademagazin editor Date: 2022. 04. 29. 11:02

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Austria’s gross domestic product expanded significantly in the first quarter of this year, largely due to a low base; increased by 2.5 percent quarter-on-quarter and by 8.7 percent year-on-year, according to preliminary data from WIFO Austrian Institute for Economic Research.

Austrian economy grows nearly 9 percent year-over-year in first quarter

GDP contracted 1.5 percent in the fourth quarter of last year due to the fourth Covid short, after a 3.4 percent quarter-on-quarter increase. In the second quarter of last year, Austria’s gross domestic product grew 4.1 percent from the previous quarter, when the decline was 0.4 percent. (MTI)