Austria’s economic growth rate held steady in the third quarter, underpinned by fixed investment as consumer demand stagnated, preliminary estimates from the Austrian Institute of Economic Research (WIFO) showed Friday.
Gross domestic product grew 0.3 percent from the second quarter, when it expanded at a similar pace.
Private consumption stagnated for a second straight quarter, while investments growth improved to 1.4 percent from 1.1 percent. Export growth also rose to 1.4 percent from 1 percent. Imports grew at a faster rate of 1.6 percent.
Annually, GDP rose 1 percent in the third quarter following 0.7 percent grwoth in the previous three months.
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