Austria’s economy expanded in the first quarter after the Alpine republic’s manufacturers lifted exports and people consumed more goods and services, the government-backed Wifo economic research institute said.
First-quarter gross domestic product, the value of goods and services, rose 0.2 percent from the preceding three months, Wifo said today in an e-mailed statement. Households consumed 0.2 percent more. It was the first period of growth in Austria since the second quarter of 2011, according to the institute.
Austrian manufacturers including Andritz AG, the world’s second biggest maker of hydroelectric turbines, Palfinger AG, the world’s biggest truck-mounted crane maker, and RHI AG, the world’s biggest maker of fireproofing ceramics, reported higher revenue in the first three months of the year.
Wifo revised its estimates for the third and fourth quarters of last year to zero growth. It previously had said GDP retracted 0.1 percent in the fourth quarter after increasing 0.2 percent in the third quarter.
Austria’s economy grew 1.9 percent on a year-on-year basis, according to Wifo.