Austrian Economy Falls Into Recession as Spending Down
- GDP drops 0.6% in 3Q after 0.8% drop in 2Q: Wifo institute
- Industrial, construction output, houshold spending decline
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Austria’s economy fell into recession, with a slump in consumption and investments driving down output for a second consecutive quarter.
Gross domestic product declined 0.6% in July-September after a 0.8% drop in the prior three months, the Wifo research institute said Monday.