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Austria: GDP Decrease Due to Declining Consumption
In the fourth quarter of 2012, Austria´s economy shrank by 0.2%. In the full year 2012, Austria´s GDP expanded by 0.7%.
Austria: GDP Decrease Due to Declining Consumption / Picture: © Vindobona.org
According to the Austrian institute of economic research, the main reason for the economic downturn in Austria is the recession in the Eurozone. The seasonally adjusted GDP was 0.4% higher than in the fourth quarter of 2011. Against the third quarter, the real economic growth came at minus 0.2%. The decline was mainly due the decreasing exports (-0.2%) and the falling consumption…
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