Austrian Economy Grew 0.2% in Quarter on Exports: Wifo

Austria’s economy gained pace in the second quarter as exports expanded more dynamically, the government-backed Wifo economic research institute said.

Gross domestic product expanded by 0.2 percent in the three months through June after climbing a revised 0.1 percent in the first quarter, Vienna-based Wifo said today in an e-mailed statement today. That beats the median estimate of a 0.1 percent increase in a Bloomberg News survey of five economists. Exports increased by 0.3 percent in the period and provided the most momentum to the economy, it said.

Compared with the second quarter of last year, the economy 0.3 percent if adjusted for inflation, according to the institute. 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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