Austria: Broad-based economic upswing

​Robust and stable expansion

The Austrian economy currently finds itself in a period of very strong and stable economic expansion, which is supported both by domestic and external demand. Following real GDP growth of 0.9% in the first quarter of 2017, growth came in at 0.8% in both the second and third quarter (q/q, seasonally adjusted). Export activity has gained considerable momentum since the fourth quarter of 2016. Austrian exporters benefit from the economic recovery in the eurozone and the strong demand from central and eastern European countries. The loss in export dynamics in the third quarter has to be seen as a natural normalization, following a very dynamic development in the preceding quarters. Export-oriented companies continue to assess their order books very positively. Thus exports are likely to provide growth stimulus well into next year.