Austria: Economy slows but stays above Eurozone average – ING

The Austrian economy grew by 0.5% QoQ in the 3Q according to a first flash estimate from the Austrian Institute of Economic Research, 0.3 percentage points above the eurozone GDP growth rate, points out Inga Fechner, Economist at ING.

Key Quotes

“The more volatile Eurostat measure confirms the positive picture, coming in at 0.4% quarter-on-quarter. Second-quarter growth was revised down a notch to 0.6% from 0.7% (Eurostat: 0.3%). While momentum continues to decline, overall, economic growth remains favourable with the economy remaining on track to grow 2.8% year-on-year.”