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Austria’s Economy Contracted 0.2% on Lower Exports, Wifo Says

Austria’s economy shrank in the fourth quarter as lower demand for goods in the euro area slowed exports, government-backed Wifo economic research institute said.

Fourth-quarter gross domestic product fell 0.2 percent from the third quarter, when it rose 0.1 percent, Wifo said today in an e-mailed statement. Exports declined 0.1 percent and consumer demand also fell 0.1 percent after a stagnation in the third quarter.

The economy in the Alpine republic rose 0.7 percent in 2012 based on today’s flash estimate, Wifo said.

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