Austria’s economic growth stable

Austria's economic growth stable
Photo: APA
Austria's economy grew slightly less than anticipated at the beginning of the year, but the upswing was stable, according to the economic think tank Wifo on the weekend.

In the first quarter of 2014, the gross domestic product (GDP) was only 0.2 percent higher than in the fourth quarter of 2013, said Wifo. Originally, 0.3 percent was expected.

Between October and December last year, the GDP increased by 0.4 percent compared to the previous quarter. This meant that while economic growth was not speeding up, it was stable, according to Wifo.

The experts also said that the warm and dry winter contributed to increased economic activity in the outdoor sectors. However, private consumption in Austria remained low.


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