Austrian Second-Quarter Growth Revised Down to 0.1%, Wifo Says
Austria’s economy expanded less than estimated in the second quarter after export data showed goods and services sold abroad grew less than initially projected, the government-backed Wifo research institute said.
Gross domestic product expanded 0.1 percent in the three months through June, less than the 0.2 percent estimated by Wifo last month, the Vienna-based institute said today in an e-mailed statement. Exports increased by 0.2 percent in the period, 0.1 percent less than its earlier assessment, Wifo said.
“In Austria, business surveys and early indicators show economic improvement in the near future, however to this point, growth has remained subdued,” Wifo said.
Compared with the second quarter of last year, the economy grew 0.2 percent if adjusted for inflation, down from Wifo’s earlier 0.3 percent estimate. In June, Wifo cut its outlook for Austrian growth this year to 0.4 percent, saying the persistent weakness of the euro area would hit the Alpine republic’s exports and investments.
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