Austrian Economy Shrank in Last Quarter of 2011

BusinessEconomy ♦ Published: February 15, 2012; 15:50 ♦ (Vindobona)

Due to lower exports, the Austrian economic growth showed a decrease in the last quarter of 2011. For 2012, the economy will stagnate or increase very slowly.

Austrian Economy Shrank in Last Quarter of 2011 / Picture: © Vindobona.org

Austria’s economy contracted in the fourth quarter after flagging global demand for goods and services hurt the Alpine republic’s exporters, the state- supported Wifo research institute said today. Wifo estimates that full-year GDP grew 3.1 percentage points in 2011.

Fourth-quarter gross domestic product, the value of goods and services, fell 0.1 percentage point from the…

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