Austria’s GDP in the 3rd quarter 12% above the previous quarter, 4% below the previous year

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Real investments grew by 7.9 percent compared to the previous quarter and thus made up for a large part of the declines in the first half of 2020, but fell by 0.7 percent year-on-year. The upward trend was evident in all investment categories – with the highest growth rates in investments in machines (+14.0 percent real compared to the previous quarter, -3.7% real compared to the previous quarter) and vehicles (+17.5 percent real compared to the previous quarter) , + 6.4% real compared to the same quarter of the previous year).

The international, more relaxed Corona situation was also reflected in the foreign trade data in the summer: Real exports climbed 16.1 percent compared to the previous quarter, while real imports grew by 12.1 percent. According to Statistics Austria, the still relatively large real decline in exports (-8.6 percent) and imports (-9.1 percent) compared to the same quarter of the previous year can be explained by the restrained cross-border trade in services, especially travel.

The recovery effects over the summer ran through almost all economic sectors. The areas of trade, transport, as well as accommodation and catering, which were particularly hard hit by the lockdown in the first half of the year, recorded a strong real increase of 32.9 percent in the third quarter compared to the previous quarter (but -4.5% compared to the same quarter of the previous year). The same applies to the culture and entertainment industry as well as personal services, which together grew by 39.2 percent in real terms compared to the previous quarter, but not yet reached the pre-crisis level (-7.7 percent in real terms compared to the same quarter of the previous year).



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https://kurier.at/wirtschaft/oesterreichs-bip-im-3-quartal-12-ueber-vorquartal-4-unter-vorjahr/401113884

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