Austria: Economy slows but stays above Eurozone average – ING

Sandeep Kanihama FXStreet Contributor

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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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