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Austria sees 0.4 pct third-quarter GDP growth

Xinhua, November 30, 2016 Adjust font size:

The Austrian economy has seen third-quarter GDP growth of 0.4 percent on the back of strong growth in private consumption and tourism, the Austrian Institute of Economic Research (WIFO) stated on Tuesday.

Year-on-year, the economy has managed 1.2 percent growth, down a slight 0.1 percent from an earlier WIFO flash calculation.

It its report, WIFO said private consumption was buoyed by an increase in disposable income, growing 0.4 percent in the third quarter, while public consumption grew 0.2 percent, dropping a slight 0.1 percent.

The services sector also performed well, with the tourism industry notable here, in particular in the accommodation and gastronomy sectors.

Further positive growth impulses were also noted in investment and material goods production, while growth in the foreign trade sector was muted, WIFO said. Endit