VIENNA – Austria’s economic statistics agency says the country’s economy grew by 1 percent in the second quarter, a slight improvement over the first three months of the year.
The Wifo agency says that year-on-year growth was 3.7 percent. While that’s down from the 4.2 percent year-on-year for the first quarter, the statistics reflect a relatively strong economic performance compared to the eurozone as a whole.
The agency said in figures published Tuesday that exports were the main driver for growth. Second-quarter private-sector expenditure grew by 0.2 percent. Austria’s economy grew by 0.8 percent in the first quarter.
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[...] GDP in Austria increased by 1 percent in the second quarter, a faster pace than the 0.8 percent growth registered in the first quarter. Austria’s performance – driven mainly by exports – is strong compared to other members of the eurozone, but the small economy carries little weight in figures for the entire zone. For this reason, international stories on the eurozone seldom mention the performance of Austria. [...]