GDP Growth below Expectations in Q2

BusinessEconomy ♦ Published: September 16, 2011; 12:37 ♦ (Vindobona)

The real growth rate was revised downwards to 0.7%. Wifo expects a normal slowdown but no economic crisis.

GDP Growth below Expectations in Q2 / Picture: © WIFO

In the second quarter of 2011, the Austrian economy grew at a lower rate than had previously been expected. In real terms, the GDP improved by only 0.7% compared to the first three months of the year. The Austrian Institute of Economic Research (Wifo) had forecast a rate of 1.0%.

Furthermore, the institute also revised the real GDP growth rate for the first quarter. It was…