The Austrian economy contracted by 0.1% in the three months ending September 2024, missing preliminary estimates of a 0.3% expansion and following stagnant growth in the previous period. The economy's recession persisted, driven by weak net external demand, as exports fell 0.6% (vs. -1.5%) while imports rose 1% (vs. -0.5%). Meanwhile, household consumption and gross capital formation recovered slightly, growing by 0.1% and 0.4%, respectively, after declines of 0.5% and 0.3%. On an annual basis, GDP shrank 0.6%, improving from an upwardly revised 1.2% contraction in the prior quarter. source: Statistics Austria

The Gross Domestic Product (GDP) in Austria contracted 0.10 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Austria averaged 0.40 percent from 1995 until 2024, reaching an all time high of 11.30 percent in the third quarter of 2020 and a record low of -11.20 percent in the second quarter of 2020. This page provides - Austria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Austria GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

The Gross Domestic Product (GDP) in Austria contracted 0.10 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Austria is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Austria GDP Growth Rate is projected to trend around 0.20 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-30 08:00 AM QoQ Flash Q3 0.3% 0% 0.2%
2024-12-04 08:00 AM QoQ Final Q3 - 0.1% 0% 0.3% 0.3%
2025-01-30 08:00 AM QoQ Flash Q4 -0.1% 0.2%


Related Last Previous Unit Reference
Full Year GDP Growth -0.70 4.80 percent Dec 2023
GDP 516.03 470.94 USD Billion Dec 2023
GDP Growth Rate YoY -0.60 -0.60 percent Sep 2024
GDP Constant Prices 93771.17 93102.03 EUR Million Jun 2024
GDP Growth Rate -0.10 0.00 percent Sep 2024
GDP per Capita 45851.72 46697.86 USD Dec 2023
GDP per Capita PPP 64643.97 65836.89 USD Dec 2023
Gross Fixed Capital Formation 22421.65 20492.62 EUR Million Jun 2024
Gross National Product 477.25 447.22 EUR Billion Dec 2023

Austria GDP Growth Rate
Austria's economy features a large service sector (63 percent of total GDP), a solid industrial sector (25 percent), and a small, but highly developed agricultural sector (1 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent.
Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.00 11.30 -11.20 1995 - 2024 percent Quarterly
SA


News Stream
Austria Economy Unexpectedly Contracts in Q3
The Austrian economy contracted by 0.1% in the three months ending September 2024, missing preliminary estimates of a 0.3% expansion and following stagnant growth in the previous period. The economy's recession persisted, driven by weak net external demand, as exports fell 0.6% (vs. -1.5%) while imports rose 1% (vs. -0.5%). Meanwhile, household consumption and gross capital formation recovered slightly, growing by 0.1% and 0.4%, respectively, after declines of 0.5% and 0.3%. On an annual basis, GDP shrank 0.6%, improving from an upwardly revised 1.2% contraction in the prior quarter.
2024-12-04
Austrian Economy Expands 0.3% in Q3
The Austrian economy grew by 0.3% quarter-on-quarter in the three months ending September 2024, after stagnating in the previous period, preliminary estimates showed. This growth was supported by a rebound in private and government consumption, both increasing by 0.5% following declines of 0.6% and 0.2%, respectively. Gross fixed capital formation continued to decrease but at a slower rate (-0.3% vs. -0.7%). Meanwhile, net external demand negatively impacted GDP, as exports rose by 1.2% (vs. -1.0%) and imports increased more sharply by 1.7% (vs. -0.5%). On the production side, industry and construction remained in recession, while public administration and other services showed growth. Year-on-year, GDP declined by 0.1%, improving from a 0.6% contraction in the previous quarter.
2024-10-30
Austria Economy Contracts in Q2
The Austrian economy contracted 0.4% in the three months ending June 2024, compared to a flat reading in the preliminary estimates and following a 0.1% growth in the previous quarter. Household consumption fell by 1.1% (vs 0.8% in Q1), while the gross capital formation increased by 7.3% (vs -6.7%) driven by a higher investment in other buildings and structures (3.7% vs -3.8%) and machinery and equipments (1.3% vs -5%). On the external side, exports decreased 0.02% (vs -1.2%), while imports rose 0.6% (vs -1.4%). On a yearly basis, GDP fell by 0.6%, following a downwardly revised 1% decrease in the preceding period.
2024-09-04